Pros And Cons Of The World Bank And The IMF

829 Words4 Pages
The World Bank and the IMF I am from Bolivia and I have seen the conflicts created by the World Bank fist hand, in my country , my city, my streets , my home. From 1986 to 2001, Bolivia's economic policies were influenced by the World Bank. The Bolivian government received more than US$ 350 million to solve problems caused by the previous political instability causing that in 1985 inflation reached a 25000% annually. The World Bank lent money to Bolivia in exchange for our following their economic policies. These policies stated that we privatize the state-owned enterprises (Gas, Water, Communications, Electric Power, ETC), increase taxes and reduce the funds for health and education to reduce the budget deficit. Unfortunately, none of these policies worked in Bolivia causing serious economic, social and political conflicts…show more content…
During the confrontations 34 people died , many killed by military snipers. Conclusion 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. The world bank had policies created for the countries that were asking for economical help, but these were not evaluated and were made without assessing culture and economic capacity of each country. Each country is different, different people, different resources, different culture and an exhaustive analysis was necessary to implement any policy . If the IMF had respected the sovereignty of the country, letting them follow their own rules and letting the people from the country create their own strategy get afloat, they would have had better
Show More
Related

  • Pros And Cons Of Privatization In Zambia

    2404 Words  | 10 Pages

    Privatization refers to the process of transfer of ownership, either permanent or on long term lease in nature, of a once upon a time state-owned or public owned property to individuals or groups that intend to utilize it for private benefits and run the entity with the aim of profit maximization. On the other hand, engineering education is the activity of teaching knowledge and principles related to the professional practice of engineering. It includes the initial education (bachelor and or master’s

    Read More

  • The Pros And Cons Of Austerity Policies

    2183 Words  | 9 Pages

    In order to understand what are the pros and cons of austerity measures, let’s consider austerity in Portugal. Portugal suffered from the combination of next three things: low growth, an aging population, and low productivity. When, in 2010, the crisis started in Greece, forcing many investors

    Read More

  • Indian Education In India

    10165 Words  | 41 Pages

    coordinate and distribute the productions and goods effectively. Neo-liberalism goes beyond classical liberalism by embracing market fundamentalism since state interference in the market mechanism contributes to poor economic performance. It results in a world dominated by unregulated markets, where “inequality and private power shape the social order,” Classical liberalism arose along with the Enlightenment movement of the late 17th and the 18th centuries which proclaimed reason as the foundation of individual

    Read More

More about Pros And Cons Of The World Bank And The IMF

Open Document