

After April’s G-20 summit in London, Western leaders were praising the decision to increase the International Monetary Fund’s coffers to one trillion dollars. Before the crisis hit, the IMF had been reduced to virtual irrelevance as countries the world over scrambled to free themselves of the IMF’s strict loan conditions. The IMF claims that it has changed its ways, but the evidence so far is the continuation of a dangerous double standard between the West and the rest.