Topic. The World Bank Uses A Multitude Of Corrupt Policies

WORLD BANK: governments play an important role in development, but there is no simple set of rules telling them what to do.

~ Today the bank functions as an international organization that attempts to fight poverty by offering developmental assistance to middle and poor-income countries. By giving loans, and offering advice and training in both the private and public sectors, the World Bank aims to eliminate poverty by helping people

First, I will explain the role of empowered institutions and countries in limiting the economic activities of developing countries, impeding on their ability to survive. Afterwards I will explain the obligation people in privileged positions have to improve the lives of those in compromised positions, at a certain degree of self-sacrifices. Finally, I will critically analyze and disprove the counter argument, which attempts to relieve us of the aforementioned duties, by discrediting the roles of institutions and developed countries in the prolongation of impoverishment.

In the case of the proposal to fund Brazil with dams, irrigation, power, roads, and funds to develop crops the World Bank has those funds. As a representative of the World Bank, this proposal is currently not very wise and the impact it will have on the people of Brazil will not be a positive one, and that it will not yield a great return to the World Bank unless some adjustments to the proposal are made.

Within the last 60 years, Third World development has been a global priority, at the top of virtually every Western agenda. And with the rise of the global population and poverty levels continuing to rise along with it, it is very easy to see why human development is becoming such a topic of focus and discussion among members of the academia. But one question that everyone wants the answer too is, how does Third World development fit into Globalization? Despite apparent compatibility, when closely examined it is clear to see that Globalization actually contradicts Third World development due to the conflict of agendas. Both Globalization and Development hold views concerning market reform, social structure and regulation, which are

International development and underdevelopment are major issues in global society today. John Perkins’ book The New Confessions of an Economic Hit Man is a very critical account on the activities of private corporations such as MAIN and international financial institutions such as the World Bank and the International Monetary Fund and how many actions are based on self-interest, corruption and greed. The book does an exceptional job at giving us an insider’s perspective on why debt induced developing nations are in a constant state of underdevelopment from the corrupt actions of Economic Hit Men and their colleagues Jackals who deal with the dirty side of the business and political economics. Global economics and debt have

According to William Easterly, the consensus on global development is an axiomatically wrong and ostentatious position. This is not new to Easterly, who spent a number of disenchanted years as a senior advisor at the World Bank. These tumultuous years would certainly help formulate Easterly’s austere perception of technocratic solutions to global poverty. Easterly’s contentious view of technocrats becomes a focused thesis in his book, The Tyranny of Experts. In this book, Easterly argues that poverty is not a “technical problem amenable to technical solutions” (Easterly 6). Instead, poverty is a manifestation of brutish leaders quashing the rights of individuals. While Easterly presents a cogent argument against top down development, the lack

The World Bank, created in 1944, was made to provide assistance to poverty-stricken or financially unstable countries around the world. Although it originated as an amazing idea, today the World Bank sometimes causes more harm than benefit in the countries that it intends to assist ("International Monetary Fund and World Bank," n.d.). One example of this is the Chixoy Power Project the World Bank funded in Guatemala. In 1978, the project was started " with the intent of “bringing development” to Guatemala" (Russell, 2015). However, this project leads to one of the most horrific genocides in Guatemalan history.

In an effort to bring an end to world poverty the World Bank and IMF (International Monetary Fund) were established in 1944. Consisting of members from 44 nations “The Bank and the IMF are twin intergovernmental pillars supporting the structure of the world's economic and financial order”(Driscoll, 1996). In other words they are international economic organizations that grant loans to third world countries for development programs.

Ranging from the UN World Food Program to Oxfam, initiatives aim at improving conditions for those trapped in poverty, alleviating hunger and malnourishment, as well as enable individuals to become self-sustainable. Some of the programs and assistance provided to countries is not without drawbacks and criticisms. For instance, World Bank and IMF development assistance has been accused of interfering with countries’ ability to manage affairs sovereignly (e.g. conditions attached to the receipt of aid). Likewise, US AID assistance comes with foreign policy attachments that may not always be appreciated. Furthermore, even though NGOs are becoming more mindful of local conditions and cultures, they inadvertently promote western perceptions concerning human rights and values. Yet, despite differences in goals, approaches, and other aspects at appears reasonable to expect sustained, cooperative efforts to reduce poverty. The cynic may argue that nations pursue self-serving goals and aim to distract citizens from internal problems, while NGOs’ involvement justifies their existence…

And as peoples trust in the State to fulfil its tasks dwindles, so does the States power to provide those services (ibid.). But from a development perspective things are a bit different. Most problems in delivering services to citizens are financial in nature (Greve, 2012), but where a lack of funds might stop State-led development, it is not detrimental to the State as an agent of it. For what is perceived ‘’good development practice’’ there is always international funding (for example McGrath, 2015, Worldbank.org, 2015, Undp.org, 2015). This paper does not go into the debate of is ‘’good development practice ‘’ good or not- it takes internationally sponsored and promoted development practice as implicitly good. And for the sake of argumentation on- is the State a good or bad agent of development- it does not matter what kind of development it promotes. So this good development is taken as the one we want our states to be agents to. And the State relying on foreign sources of funding development practice when it lacks state funds for development might be positive. To clarify, a state that runs a budget deficit does not have the monetary power to start development policy. This allows for the internationally funded and tried-out development practice to become the only development practice a state can enforce (finance), because it can fund it from external sources such as donations,

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.

Far from being seen as objective entities, the World Trade Organization (WTO), International Monetary Fund (IMF), and World Bank are often conceptualized as instruments of the developed world. It is alleged that they are used to enforce crippling economic policies upon the developing world. To some extent, it is perhaps inevitable that these international institutions are seen as such. The memory of colonial exploitation in Latin America, Africa, and other developing nations runs deep, and the power dynamic of these institutions relative to the nations they are ostensibly helping often echoes the relationship of the colonizing to the colonized.

The International Bank for Reconstruction and Development which was the forerunner of the World Bank (WB) - was established to handle post-war renewal. Nowadays the organisation is the biggest leading development institution and basically operating for growth and poverty decrease. "Owned by the governments of its 188 member states, the Bank channels loans and grants and advises low and middle-income

The World Bank is composed of five organizations run by member countries. It provides ‘technical and financial assistance’ to developing countries. In connection with this, the bank has the objectives of eradicating ‘extreme poverty’ by 2030. However, it has been pointed out that, the bank’s commitment towards environmental protection is not practical. This comment relates to the case at hand, as the bank provided funds to the construction the lines transmitting power to neighbouring countries; although, the project has been criticised for its human rights and environmental concerns. This is an action which has been criticised from the view point of its ‘safeguard policy’ whereby the bank should focus on infrastructure development and not in profit making given the government of Ethiopia plans to export half of the power generated to Kenya. Moreover, the agenda of the government of Ethiopia in exporting electric power, where only 26.56% of the population in the country have access to electric power, should not have been supported by the World Bank. In addition to this the bank’s goal of eradicating extreme poverty is questionable where it is funding a project in which nearly half a million people could be exposed to starvation.