Luiz Carlos Bresser-Pereira
Revista da USP 17, março 1993: 114-121.
The basic problem involved in IMFs recent adjustment programs and in World Banks structural reformas derives from the fact that they are designed to deal with normal situations, whereas most developing countries, particularly in Latin America and Eastern Europe, face today abnormal times. The standard critique against IMF stabilization programs was that they did not take into due consideration the specifities of developing countries. But, in sor far as countries developed and became capitalist economies this critique lost part of its relevance.
