![]() The International Development Association (IDA, 159 members in 1997), which provides less advanced countries with long-term loans (35-40 years) at very low interest (1%) ģ. The International Bank for Reconstruction and Development (IBRD, 189 members in 2017), which provides loans in productive sectors such as farming or energy Ģ. It consists of several closely associated institutions, among which :ġ. It financed public and private projects in Third World and East European countries. Its capital is provided by member states’ contributions and loans on the international money markets. WB The World Bank was founded as part of the new international monetary system set up at Bretton Woods in 1944. This mistaken conception is revealed in particular by the North American environmentalist Bruce Rich in his insightful book on the World Bank World Bank The concept of the World as a huge bureaucracy, gradually freed from the influence of the US, is actually a far cry from reality. The hidden agenda of the Washington Consensus, Mumbai: Vikas Adhyayan Kendra, 2007, or The World Bank : A critical Primer Pluto, 2007. The articles are taken from the book The World Bank: a never-ending coup d’état. ![]() This new series of articles by Éric Toussaint retraces the development of the World Bank and the IMF since they were founded in 1944. New international institutions must be established. Since their creation, the IMF and the WB have violated international pacts on human rights and have no qualms about supporting dictatorships.Ī new form of decolonization is urgently required to get out of the predicament in which the IFI and their main shareholders have entrapped the world in general. ![]() Foreign indebtedness has been and continues to be used as an instrument for subordinating the borrowers. The WB and the IMF have systematically made loans to States as a means of influencing their policies. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few allied major powers who work to generalize policies that run counter the interests of the world’s populations. In 2020, the World Bank (WB) and the IMF are 76 years old.
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |