The Asian Peoples’ Movement on Debt and Development, who admnistrates the secretariat of Global Alliance for Tax Justice’s regional network member in Asia, published this article ahead of the World Bank/International Monetary Fund Annual meetings (“Annuals”).
This is the Fight Inequality Alliance (FIA)’s contribution from Asia, while FIA organized a Mobilization week during the Annuals, targeting the World Bank and the International Monetary Fund.
” Leading international financial institutions (IFIs) such as the International Monetary Fund and the World Bank have joined calls to end inequality, and with their resources and influence, seek to shape the discourse. They have begun to position themselves as advocates, technical advisers and funders supporting efforts towards more equitable development outcomes. They have even admitted the failings of the trickle-down strategy they have advocated for decades and are now promoting inclusivity as important to growth. Expectedly, nothing is said of how IFIs promoted the very conditions that led to such stark inequalities within and across countries, and the continuing role they play in advancing the same neoliberal models that dispossess and impoverish peoples while facilitating the accumulation of wealth by a tiny few”.