It is safe to assume that many common people of yore might have believed – with typical end-of-tragedy romanticism, that postwar multilateral institutions heralded the advent of an era of understanding among the human beings, and were the touchstone of a common effort towards a better, fairer world for everybody. Now, sheer common sense make us humans recognize that whatever element of truth had involved such vision, something got wrong. Over half a century later, after countless new wars, genocides, poverty, economic inequality, and a thousand other tragedies, we must pronounce such institutions a failure.

Curiously enough, however, the multilateral organization websites keep providing us with all too many business-as-usual advice pieces on what we should be doing right now to face the crisis. All sorts of solutions are being offered, including new financial stability funds, new "G"[roups], study commissions, programs, and, of course, indebtedness facilities.

The IMF and World Bank Spring Meetings held in Washington on 25-26 April, ended up with horrifying forecasts.

"Developing countries face especially serious consequences, as the financial and economic crisis turns into a human and development calamity.

It is estimated that an additional 55 million people will be trapped in extreme poverty in 2009. The number of chronically hungry people is expected to climb to over 1 billion this year."

Once again, like in so many other crises, the devastating impact on the real economy – on people – is, sadly enough, just a figure in the statistics.

And once again, like in previous crises, it is said that organization internal governance and voting power reforms are in the workings, particularly in terms of enhancing voice and participation of developing members.

World Bank President Robert Zoellick is now proposing multilateralism and market modernization. Let us see what he has to tell us in this area:

"Looking Back –To See Ahead

National governments are drawn increasingly to provide aid with their flag, not through multilateralism that encourages coherence and building local ownership.

Private financial markets and businesses will continue to be the strongest drivers of global growth and development.

We must learn the lessons from the past, as we build for the future."

Well, let us remember. Let us look back to what the international organizations were up to while the current catastrophe was being brewed.

Note, first, that Reform is being "talked" about for a decade now. In 2001, under the headline "Reforming the International Financial Architecture – Progress Through 2000", the IMF stated: "The financial crises of the past few years exposed weaknesses in the international financial system. In response, the international community is strengthening the architecture of the international financial system to reduce the risk of crises."