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WASHINGTON, April 12 (AFP) - Activists here on Wednesday distributed a one-page spoof of the Washington Post announcing the resignation of World Bank president James Wolfensohn, the merger of Brazil and Argentina and plans by the IMF to improve its image by fooling the public more skillfully.

Dubbed "Washington Lost," the publication features a photograph of the International Monetary Fund's former managing director Michel Camdessus just after taking a pie in the face, an incident which did actually occur during a visit he made to Thailand in February.

"Former IMF Head Michel Camdessus after violently attacking a protester's pie with his face," the caption reads.

The parody of the Post, which copied the typeface used by the paper, appears to be the handiwork of activists planning massive street protests here against the IMF and the Bank on Sunday and Monday.

"Partly I want to spend more time with my family," Wolfensohn is quoted as saying of his "resignation."

"But mostly I'm concerned that my immortal soul is going to burn in torment for all eternity."

President Bill Clinton hails the World Bank chief for his "tireless efforts to make sure Third World peasants pay back every damn penny their dictators borrowed."

After the reported creation of "Brazentina," a merger of Brazil and Argentina, officials in the new country sell off oil companies, phone systems, forests, roads, sidewalks and air to the highest bidder.

"After just 12 hours, Brazentina is approaching its goal of 100 percent foreign ownership," a bank economist is quoted as saying in the spoof.

Elsewhere, the IMF is reported to be making plans to improve its standing with the public.

"Sneaky, deceptive changes that will allow us to continue our hideously cruel policies without further interference," the parody quotes IMF acting managing director Stanley Fischer as saying.: