For the world's developing economies, a movement away from the dependence on the IMF is in order. Vijay Prashad writes.

The IMF has been an instrument of rape and pillage of nations. Not surprisingly, this was also reflected in the internal culture there – women were afraid to wear skirts and forced into relationship with their bosses.

The more things change, the more they really do stay the same. For a while after the global crisis, we were told that the IMF had changed its position with respect to the strict and generally pro-cyclical measures it had been suggesting to countries in the throes of financial or balance of payments crisis. Their economists openly accepted the need for fiscal stimuli and generally counter-cyclical macroeconomic policies to combat the recession.

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