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The International Bank For Reconstruction And Development Essay

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Research and find one project of the World Bank or the IMF that created problems for the nation that received its assistance. Describe the project and what the negative outcomes were. Explain whether or not you feel that the negative impacts could have been avoided? Why or why not? Further explain your opinions on whether you believe that international financial institutions such as these could consistently provide assistance in an objective, unbiased and responsible manner. Why or why not? If you do believe it is possible, then how could it be ensured? Your paper should be at least 500 words in length.

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INTRODUCTION

THE WORLD BANK or the International Bank for Reconstruction and Development (IBRD) and the International Monetary Fund (IMF) were created in 1944 by leaders of the 44 nations at the Bretton Woods Conference. The Bank was responsible for financing long term productive investment in member countries while the IMF was to provide loans to overcome short-term balance of payments deficits. Western leaders feared an unregulated world market would mean a return to depression, poverty and another world war. At Bretton Woods (located in New Hampshire, U.S.), “the decisive factor was the reality of American power.” With much of Europe destroyed by the Second World War, the U.S. was economically the world’s most powerful country; thus a U.S. vision prevailed at the conference and the World Bank and the IMF were created along U.S. lines. Unlike the U.N. also
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