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The World Bank is an organization to steal public and natural resources for private banks and corporations, and alongside the IMF one of the biggest generator o
by Torai 9y ago
The World Bank is an organization to steal public and natural resources for private banks and corporations, and alongside the IMF one of the biggest generator of poverty.
But I guess we can keep pretending they try to help to Third World countries.
- socratees 9y agoThe article definitely points out the wrongs done by IMF/World bank. Are there any resources you can point me to, such as data / financial reports which highlight how the resources are misused / mishandled?
- Torai 9y ago"On private water: The case for the World Bank to divest" https://www.stopcorporateabuse.org/sites/default/files/resources/shutting_the_spigot_on_private_water_corporateaccountabilityinternational.pdf https://www.stopcorporateabuse.org/sites/default/files/resou... "Impoverishing a Continent: The World Bank and the IMF in Africa" http://www.halifaxinitiative.org/updir/ImpoverishingAContinent.pdf http://www.halifaxinitiative.org/updir/ImpoverishingAContine... "Dismantling The World Bank’s Myths on Agriculture and Development" https://www.oaklandinstitute.org/sites/oaklandinstitute.org/files/OurBiz_Brief_UnfoldingTruth.pdf https://www.oaklandinstitute.org/sites/oaklandinstitute.org/...
- stephen_g 9y agoIt sounds like ridiculous hyperbole, but sadly that is literally how it's turned out. Start by offering development loans to build infrastructure like ports, mines, etc., but then all the proceeds from the resource extraction or agriculture or whatever go back to paying off the loan. Often that's not enough, so the IMF imposes conditions like services to the local population being cut or infrastructure being privatised (usually to foreign companies) to pay back the debt.
- qyv 9y agoWhat is the alternative for the nations that engage them?
- bostonscott 9y agoNot just banks and corporations, but statists and politicians too. Each require this symbiosis. How it always starts: "Yay, justice! Let's collect a bunch of money from rich people and distribute it to poor people." Then it's like: "We need to create a bureaucracy to allocate funds efficiently." ... How it always ends: Graft.