IslamicFinance.de

There is no doubt that ordinary people in England—and in the rest of Europe—have become richer over the past hundred years, and quality of life has improved dramatically. But the humanitarian crisis didn’t just disappear into thin air—it was exported abroad. After the ravages of colonialism were over there was a time when things started getting better for poor countries during the 1960s and 1970s. Incomes grew quickly and the gap between rich countries and poor countries began to narrow. But these two decades of hope were brought to a crashing end in the 1980s. The World Bank and the IMF began to impose “structural adjustment programs” on developing countries as a basic condition for receiving international finance.