The Village Times






Dominique Strauss-Kahn




How is the IMF different from the World Bank? It's simple, really. The IMF is a cooperative institution that seeks to maintain an orderly system of payments and receipts between nations, and the World Bank is primarily a development institution that, uh...yeah, we don't know either. Europeans preside over the IMF, and Americans run the World Bank. Other than that, they're pretty much the same, pushing austerity measures, lower corporate tax rates, etc., etc. Sure, the strict conditions they impose on loans may have caused riots in Indonesia and an increase in tuberculosis deaths in eastern Europe. but that's the price you pay for fiscal discipline.

Founded: 1944

Key Figures: ; Dominique Strauss-Kahn (left), managing director, 2007-2012; Christine Lagarde, managing director, 2012-present.

Achievements: Extracted reduced tariff protections for rice and other agricultural products as conditions of loan to Haiti. Imposed austerity measures on Portugal, Ghana and Ukraine, among others. Helped boost oligarchy in post-communist Russia.