What are the World Bank, IMF, & G20? And why should I care?
The World Bank, IMF, and G20 are major causes of climate change, injustice, discrimination, inequality, environmental degradation, war, and conflict.
They push corporate power. They damage democracy and planetary health.
World Bank – Mega-bank that loans money to governments, often dictatorships. Builds projects with serious side effects for the environment, indigenous people, and democracy. Makes the people of a country foot the bill while corporations profit. The second-largest funder of coal-fired power plants. The Bank promotes destructive river and dam projects, harmful farming methods, and other polluting projects.
IMF – Loan shark of the world. Lends money when countries are in crisis, then keeps countries on a short leash of unpayable debt. International Monetary Fund loans require countries to weaken environmental protections, trash worker rights, shred the social safety net, dismantle democratic structures, sell natural resources to corporations, and poison our common future.
G20 – Secret meeting of leaders of 20 countries. G20 leaders operate behind a veil of mystery. Their actions are undemocratic and only serve wealthy corporate interests. Everyday people have little to no input or voice in the G20’s decisions. One of the G20’s biggest actions has been to give the IMF even more money.