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Do we really need World Bank And International Monetary Fund?


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Old 07-01-2009, 08:47 AM
import import is offline
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Default Do we really need World Bank And International Monetary Fund?

Since this two organization were created in 1945 idea was to help and protect countries which were member of the organization. But in resent year many people start to question their method of business. WB and IMF show that their had a different plan and idea about business. First WB come to a country and offers them help and money with bit high interest. But when the WB and the IMF money to debtor countries, the money comes with strings attached. These strings come in the form of policy prescriptions called "structural adjustment policies." These policies—or SAPs, as they are sometimes called—require debtor governments to open their economies to penetration by foreign corporations, allowing access to the country's workers and environment at bargain basement prices. Structural adjustment policies mean across-the-board privatization of public utilities and publicly owned industries. They mean the slashing of government budgets, leading to cutbacks in spending on health care and education. They mean focusing resources on growing export crops for industrial countries rather than supporting family farms and growing food for local communities. And, as their imposition in country after country in Latin America, Africa, and Asia has shown, they lead to deeper inequality and environmental destruction. So What i'm try to say here is instead of help to develop and create better life style, this organizations creating slavery, hunger, poverty, death.
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Old 07-01-2009, 08:47 AM
India India is offline
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Default Do we really need World Bank And International Monetary Fund?

Both institutions are there to preserve the work and ideas of Capitalism. When poor countries get anything from this institutions, the countries actually get poorer, because it is simply a debt given to them. It is like your Credit Card company loaning you money when you are already poor. It is all about making more money and serving the interest of Capitalist's capital and profit. You don't give out money in a place where money is the problem, poor countries need a better economic and leadership managements. It is simply a predatory lending when you lend out a money and expect a poor country to pay it back or do something with that money. We are seeing that take a shame in poorer households in America, where people can't even afford their mortgages. Long story, I wrote articles about it and how both the World Bank and the IMF is only there for some and NOT for all.
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