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World Bank Motives , reply



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Korsan Yakula Arif wrote:
> 
> The contents of "Be Wary of Bank's Motive, PNG Advise" are rather
> surprising.  The author questions the motives of the IMF, claiming that
> IMF and World Bank perscribed "conditions were only aimed at keeping developing
> countries forever under the shackles of poverty" and citing Primary Industries
> Minister Datuk Sari Dr. Lim Keng Yaik asking, rhetorically I hope, "What
> do these international bodies, including the World Bank and the International
> Monetary Fund, know about the problems of the developing countries?"
> 
> Evidently the Minister is not aware of the structure of these international
> bodies, that is they are comprised of states, including developing
> countries - for a lack of a better phrase.  IMF and World Bank
> policy making is based on the contributions and interests of its
> members.  Notwithstanidng the IMF and World Bank's state centered structure,
> it is important to note that a state's influence is based on its economic
> capacity and output.  Thus, one could legitimately argue that IMF and World
> Bank polices represent the interests of the economic power-houses
> (primarily the G-7 states) over developing countries.  However, this by no
> means calls for the conclusion of sweeping and conspiratorial
> generalizations, such as keeping developing countries in "the shackles of
> poverty", and inferring that industrialized countries are not
> aware of the problems facing developing states.  Afterall, many
> industrialized states, ie. Canada, the United States, are being forced to
> deal with their debt problems and other social, economic, political
> concerns caused by fiscal mismanagement.
> 
> Korsan Y. Arif
> M.A. Graduate Student
> University of Waterloo
> Waterloo, Ontario
> Canada
> kyarif@xxxxxxxxxxxxxxxxxxxxxxxxxxx