The Success And Failure Of World Bank

A: The World Bank (bank) and the International Monetary Fund (financial institution) have been largely responsible for lending money to developing countries in the era after decolonization.

The World Bank or the IMF is managed by big economically powerful nations, even though they were created to protect and help countries that are in need . They first look for the benefit of these big countries and try to make other countries dependent on loans.

World Bank: International organization dedicated to providing financing, advice and research to developing nations to aid their economic advancement.

Different organizations are formed worldwide but it is mostly their mandates that categorically define the role they play. Among the most recognized, organizations that follow under the control of United Nations get an upper hand and it’s particularly made possible by the powers and control these organizations possess. This article attempts to compare and contrast the United Nations Security Council with the World Bank drawing conclusions from their mandate, style of functioning, governance and organizational culture among the key elements considered. Although they have an international outlook, there are various features within the organizations that depict them as different while others reveal elements that they share and value in common.

The World Bank was established in 1944 and headquartered in Washington, DC, the World Bank was created from a single institution to a development of five institutions. It is a vital source of financial and technical assistance to developing countries around the world. It was created as a facilitator of post-war reconstruction and development and prevention of worldwide poverty. It has more than 10,000 employees located throughout 120 offices worldwide.

On paper, the World Bank has great potential to assist all members of our increasingly smaller world. However, the World Bank is also an example of when history is written by the victors. In 1944, members of the allied countries and other nations which had risen to power during the Second

International organization in international relations such as United Nation, The World Bank, The International Monetary Fund, and World Trade Organization are a group of people that help contribute to the world by preventing poverty, promote trade and maintain world peace. Many countries come together to cooperate with each other to help bettering nations. Cooperation with other countries is required in order for these type of organization to function or else it would be a disaster.

is accomplished through loans to struggling countries. In addition to the World Bank, the International Finance Corporation was annexed to provide loans to corporations who are seen to help aide in poor countries’ development. These three organizations

Angry protesting, political upset, governments falling, privatization failing, and money lost are a few outcomes that influence the public opinion on the World Bank, and its involvement in many underdeveloped countries. While the World Bank claims that reducing poverty across the globe is its foremost priority, many opponents believe that it is responsible for increasing poverty. The World Bank is a multifaceted organization that loans money to government around the world for development.

The World Bank is known to fund many infrastructure projects in developing countries, presumably as a means to achieve their goals of increasing development in those countries. Hydroelectric dams are some of the much-maligned infrastructure projects funded by the World Bank. In a report authored by employees of the World Bank itself, the authors themselves highlight the “adverse environmental and related social impacts” of large dams, while attempting to draw a distinction between “relatively good dams and bad dams”. (Ledec & Quintero, 2003)

The three major international economic institutions are the International Monetary Fund (IMF), the World Bank and the World Trade Organization; this book mainly focuses on the IMF and the World Bank, due to the author’s first-hand experience with both institutions. The IMF, a public institution built as a guiding hand for economic stability around the world, has brought false

The Bretton Woods Conference in 1944 spawned two IFIs, the International Monetary Fund (IMF) and the World Bank, in order to rebuild a

Here the International Monetary Fund and the International Bank for Reconstruction and Development, later divided into the World Bank and Bank for International Settlement, were established. To regulate the international policy economy these institutions become known as the Bretton Woods institutions and became operational in 1946. The IMF, founded to stabilize countries' currencies in relation to each other, holds money in trust, which member countries can borrow according to terms set by the institution. The World Bank instead gives more long-term loans and sells bonds to corporations and governments, which bind the issuer to pay the bondholder the amount of the loan plus interest. However, the countries taking advantage of the opportunity to borrow money to improve their affected economy are obliged to launch a set of policies, known as the Washington Consensus, which was first presented in 1989. The reforms introduced by the Institute for International Economics include "deregulation, privatization, currency devaluation, social spending cuts, lower corporate taxes, export driven strategies, and removal of foreign investment restrictions" . More, "these loans are only granted when the countries agree to the adoption to a comprehensive programme of macro-economic stabilization and structural economic reform."

1.The international financial institutions (IFIs) are central pillars and the architects of the global economy. The world bank and IMF were founded and funded by the United states after the second world war to build shattered world economy after the war and great depression of the 1930s (socialist alternative,). The creation of the IFIs was to bring about a global economy after the “isolation economy” which some argue brought about the Second World War. The IFIs were to help the economy of the less developing countries (LDCs) to bring about growth and development, a phenomenon known as globalization.

The United Nations is widely regarded and respected as the most powerful institution that promotes international cooperation and human rights action. In theory, actions implemented by and within the United Nations are based on the mutual global goal of protecting international human rights and preventing human sufferings. These actions are constituted through three main mechanisms: the Treaty-based system, the Human Rights Council, and Security Council and Humanitarian Interventions, with the level of confrontation and seriousness in each mechanism increases respectively. While aimed to serve the mutual goal of protecting human rights over the world and have shown some successes, in a world of sovereignty, actions when implemented are in fact grounded by the national interests of each state, including embracing its national sovereignty, concreting its strategic relationships with other states, and enhancing its reputation in the international community. This paper will analyze the successes and failures of each of the three mechanisms of the United Nations regime, through which it aims to prove that when it comes to actions, states focus more on their national, and in some cases, regional interests than on the mutual goal of strengthening human rights throughout the world, thus diminishing the legitimacy of the whole United Nations system.