International financial institutions and their impacts on human rights

Current and prospective research

Authored by: M. Rodwan Abouharb

Handbook of Human Rights

Print publication date:  September  2011
Online publication date:  February  2012

Print ISBN: 9780415480239
eBook ISBN: 9780203887035
Adobe ISBN: 9781134019083

10.4324/9780203887035.ch40

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Abstract

Recent protests in Seattle, Washington DC, Prague, Turin, and Buenos Aires have deluged meetings of the World Trade Organization (WTO), International Monetary Fund (IMF), and World Bank, as well as the summits of the Group of 8 (G8) industrialized countries and Summit of the Americas. The common theme across all these protests was the protestors’ conviction that these institutions have negative effects in the developing world. Protestors have questioned the motives and criticized the impacts of these institutions on the economies and societies of liberalizing countries. The popular press has reported upon the activities of these institutions extensively. There has been considerable criticism of the austerity measures used by the IMF and World Bank, especially their key tool, structural adjustment agreements, and the harsh human rights consequences of these agreements in developing countries.

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