Will Biden ever stand up to the IMF’s abuses of power? | David Adler
This week, the board of governors of the International Monetary Fund (IMF) will gather at its headquarters in Washington DC to reaffirm the Fund's three-part mandate: financial stability, economic strength, and – as managing director Kristalina Georgieva recently asserted – international solidarity . “I am determined that we will support our members however we can,” Georgieva said of the Fund's new spirit. “Now is the time to take advantage of this opportunity to build a better world.”Georgieva is right: it is now or never. The “largest space of debt crises” in a generation hangs over the global South. Two ingredients compose this ticking debt bomb: rapidly rising levels of public debt among the world's poorest countries, and a rapidly rising percentage of that debt issued at variab...