The IMF has admitted that there is no evidence its programs of the last 60 years have worked.

May 9, 2015

"The IMF has admitted that there is no evidence its programs of the last 60 years have worked. "There is as yet no clear and robust empirical proof" that IMF policies strengthen the economies of countries where they are imposed" The report admitted that the financial integration the IMF enforces often leads to "increased vulnerability to crises." These crises come about when international investors withdraw funds at the first sign of trouble or engage in currency speculation. These crises have "exacted a serious toll."

 

Source: McConnell, Carolyn, "IMF Admits its Failings," YES!, Summer 2003, 10.

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