2min chapter

The "What is Money?" Show cover image

How the IMF and World Bank Repress the Poor with Alex Gladstein (WiM263)

The "What is Money?" Show

CHAPTER

The INF and the World Bank - What They Did and Why They Exist Today

The IMF and World Bank were created in the 1960s to help war-torn countries. But they shifted their focus to what is now known as the third world or developing countries. This would be Latin America, Sub-Saharan Africa, the Middle East,. Central Asia, South Asia, Southeast Asia; parts of Eastern Europe. It was extending credit at different interest rates to this part of the world.

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