Global: The IMF’s pitiless helping hand

For a while after the global financial crisis broke, we were told that the International Monetary Fund (IMF) would change. The Group of Twenty (G-20) meeting in April 2009 provided a massive increase in resources for the IMF to provide lending to countries affected by the crisis. In return, the Fund announced that it was going to be more supportive of enlarged fiscal deficits and other expansionary measures in the face of the crisis, and provide large amounts of funds to developing countries to cope with the situation.