Wolfowitz is Perfect for the World Bank?

money.jpegThis is a fantastic article by Naomi Klein in the UK’s Guardian about the World Bank. Her argument, with many historical facts to back it up, is that the World Bank was a flawed and hypocritical institution way before Paul Wolfowitz became bank president two years ago. All this spin the staff of the bank is doing now–touting their noble position of trying to end world poverty, wringing their hands that Wolfowitz is tarnishing their reputation—is rubbish.
Here’s what World Bank policy has been in the recent past:

It forced school fees on students in Ghana in exchange for a loan
It demanded that Tanzania privatize its water system
It made telecom privatization a condition of aid for Hurricane Mitch
It demanded labor “flexibility” in Sri Lanka in the aftermath of the Asian tsunami
It pushed for eliminating food subsidies in post-invasion Iraq.

Ecuador is rescinding their membership to the World Bank. Venezuela is following suit. Not because of Wolfowitz. But because the institution has never had these countries’ best interests at heart.

To read the article, click here.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: