Since the 1980s, the Bretton Woods Institutions (BWIs) – the World Bank and the International Monetary Fund (IMF) – have facilitated the financialisation of the global economy and international development, profoundly impacting the economies of the Global North and South and driving the restructuring of Southern economies to privilege international financial interests. This has made Global South states in particular more vulnerable to speculation in currencies and commodities driven by profit-seeking financial interests, which has both provoked and aggravated debt crises, and resulted in the Bank and Fund pushing for further austerity. Many of the negative impacts of these institutions’ promotion of financialisation are gendered, and disproportionately impact women and girls.
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