Pros And Cons Of The World Bank And The IMF

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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

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