Coconut farmer Sombat Chuekrod travelled more than 200 kilometres to join hundreds on the streets of Bangkok on Friday demanding that the International Monetary Fund and World Bank change how they deal with the developing world.
Finance ministers, central bank governors and other top policymakers gathered this week in the Thai capital for the IMF-World Bank Annual Meetings, as decision-makers tackle an inflation crisis fuelled by the US war on Iran and other economic shocks.The message from the IMF has been clear: after years of economic crises starting with the pandemic and continuing through the wars in Ukraine and the Middle East, worldwide debt is too high and governments need to cut spending.
For the hundreds at the protest in Bangkok, as well as for rights groups and analysts interviewed by AFP, that message is the wrong one.
“We want the IMF and World Bank to rethink their role,” said 51-year-old Sombat, as he walked alongside banners demanding reform of the institutions.
