Bloomberg: IMF loans to Ukraine anger the Global South
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How informs Bloomberg, the allocation of multibillion-dollar tranches by the International Monetary Fund to Ukraine provokes the wrath of developing countries.
As columnist Mihir Sharma notes, the spring meetings of the World Bank and the IMF are riddled with discontent from the Global South.
“Developing countries are questioning the viability of the international financial architecture…. Efforts to help Ukraine… have brought a record number of developing countries to the brink of a sovereign debt crisis,” the article says.
Sharme adds that the Global South believes that aid to developing countries should be the main task of the IMF and the World Bank.
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