Many had no choice. The IMF bails out big banks. The IMF bailouts in Asia, like those in Russia and Mexico, directed money to those countries largely for the purpose of paying off loans to foreign banks. Thanks to the IMF, the banks escaped significant losses for imprudent lending decisions. World Bank structural adjustment programs devastate the environment.
Structural adjustment demands an increase in exports and foreign exchange earnings.
World Bank structural adjustment programs harm women. Cuts in budget spending, mandated by structural adjustment programs, leave women to pick up the pieces - with government services eliminated, women are forced to provide informal social supports for the sick and disabled. The high interest rates associated with structural adjustment have made credit less accessible, undermining the viability of small women-owned businesses. In addition to the emotional hardship of leaving their land, the displaced people almost always find their quality of life diminished after the move 9. World Bank structural adjustment programs and Bank project loans have led to deforestation worldwide.