What do you know about the World Bank and the International Monetary Fund?These giant orwellian institutions seem to have major impact on the world economy and prob contribute to poverty in some places(Africa and South America) while maintaining a foothold on control of the worlds economy and it's riches for others others.(ie: US and EU) | |
The International Monetary Fund and the World Bank are loan sharks helping the rich stay rich while giving the poor a colonial boot to the head. Oh yea, and their policies promote environmental destruction. Through their structural adjustment policies, debtor nations are forced to cut health and educational funding, eliminate food subsidies, devalue currencies making exports cheaper, freeze wages and privatize national assets. Farmers have been forced to shift from food production for local consumption to that being exported to wealthy nations.
Both the IMF and the World Bank Group were established by the Bretton Woods conference in 1944. The WBG's first loan was to France for postwar recovery.
The Bank got sloppy during the period of 1972-1989. It failed to do assessments on proposals and didn't consider environmental and social impacts. Its thrust seemed to have improved in the 1990s but you know where money interests have gone since 2000.
The Bank is a lender of foreign currency and insists on repayment in the same currency, resulting in a transfer problem. In order to repay, poor countries are often in the position of accumulating more debt. If the debtor nation doesn't agree to the conditions noted above, not only will they be denied by the World Bank but also by other powers.
The World Bank is a major source of funding against AIDS in poor countries. That, however, is similar to tobacco companies doing public service announcements against smoking. The structural adjustment policies aggrevate the spread of the pandemic by limiting the funding allowed for health and education.
Bad for world justice. The IMF (Infant Mortality Fund) and the World Bank asset strip the developing world just like the imperial powers of yore-except this time round they end up in even fewer hands.
However the worst of all is the BIS -the Bank of International Settlements in Basel, Switzerland is the most sinister, the most powerful and the least known of the fianicial institutions of the Global Elite.
It's where they launder the money from their dirty dealings globally.
The World Bank and the International Monetary Fund are financial institutions being used by the superpowers to exploit poor countries. No loan will be approved unless the poor countries will be subjected to be exploited by the superpowers.
well, all I know is that in my country, throughout 32 years of Suharto regime, we are rely on too much on IMF because Suharto were addicted of lending billions of dollar from them in order to maintain our economic stability. But it turns out that after 1997 Asian Crisis monetary crisis, our debts from IMF is 41 billion dollars. After all, IMF had managed to manipulate our harsh situation and putting our people into severe poverty and misery as a result of the crisis. Screw IMF!
I only need to know that Paul Wolfowitz is getting screwed royally because he is American and was challenging the status quo in TWB.
simple ;Shut em' Down then redistrubute the wealth towards the poorer nations of the world!
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That their policies and practices are NOT beneficial to developing and undeveloped countries. In fact, they are pretty much leeches if you ask me.....
