Economic crisis never seems to end and the true reason for that is the control of global economy by the elite, who use the International Financial Institutions like the International Monetary Fund, World Bank and World Trade Organization to accomplish their sinister goals. The following process has been used for the past 65 years by the IMF and the World Bank. They destroyed the economies of Asia , Africa and Latin America in the past and now are doing the same thing in Europe in countries like Greece. The International Monetary Fund (IMF) approved on May 9, 2010 a €30 billion three-year loan for Greece as part of a joint European Union-IMF €110 billion financing package to help Greece fight its debt crisis. But as usual imposing conditionalities that led to the cycle of economic crisis.

Economic crisis never seems to end and the true reason for that is the control of global economy by the elite, who use the International Financial Institutions like the International Monetary Fund, World Bank and World Trade Organization to accomplish their sinister goals. The following process has been used for the past 65 years by the IMF and the World Bank. They destroyed the economies of Asia , Africa and Latin America in the past and now are doing the same thing in Europe in countries like Greece. The International Monetary Fund (IMF) approved on May 9, 2010 a €30 billion three-year loan for Greece as part of a joint European Union-IMF €110 billion financing package to help Greece fight its debt crisis. But as usual imposing conditionalities that led to the cycle of economic crisis.



The Process works as follows

Nation borrows money from the IMF and the World Bank.

Nations approach IMF and the World Bank for loans. A nation needs money for various purposes like to build dams, pipelines, infrastructure, refinery etc or it needs to borrows when it’s hit by an economic crisis like Balance of Payment crisis. Generally the economic crisis is artificially created.





IMF and World Bank give loans but on the condition to implement various economic reforms.

The IMF and World Bank covertly work under the orders of the Wall Street and Corporate Powers. IMF and WB imposes conditionalities on the loan receiving countries, calling them as economic reforms that will be beneficial and lead to economic growth. This starts the process of plundering of the country.



The Conditionalities Include.

* Opening up domestic markets for foreign competition.

* Privatization of industry and infrastructure.

* Remove restrictions like ownership of land and farms by foreign companies.

* Currency devaluation.

* Austerity.

* Export natural resources to MNCs so that debt can be repaid.

* Increase interest rates.

* Reduction of social spending.

* Allow greater increase in Foreign Direct Investment.

* Open financial markets for foreign investors.





Disastrous consequences of these Conditionalities.