G20: IMF Finds a New Unpopularity

When some Eastern European states faced economic collapse as the financial crisis took hold, the International Monetary Fund (IMF) stepped in and offered governments huge loans.

But, as the G20 summit in Pittsburgh considers reform of the IMF, some economists and sociologists are now asking whether the social and economic cost of adhering to the strict credit conditions that came with them may not be too high for some.

Mark Weisbrot, co-director of the Washington-based think tank, the Centre for Economic and Policy Research told IPS: "The IMF loans have made the economic and social situations in these countries worse.

Full text from the Inter Press Service News Agency here: http://www.ipsnews.net/news.asp?idnews=48594