Posts Tagged: World Bank
Patrick Bond makes a stinging critique of the recent report of the African Development Bank that claims that 'one in three Africans is middle class' and as a result, Africa is ready for 'take off'.
Like Sarah Palin, China is suddenly everywhere.
The continent's own elites, together with the West and now China, are still making Africans progressively poorer, thanks to the extraction of raw materials.
The IMF has introduced reforms with some positive features. But it has not questioned, much less shifted away from, the "market-fundamentalist" orientation it has prescribed and enforced for so long.
At the World Bank, Robert McNamara wreaked as much havoc in countries as he did when head of the Pentagon.
The breach between the Bank's rhetoric on diversity and its practices means that it barely employs any black American in its professional grades.
Accounts that herald the IMF's "revival" are premature and superficial.
The Bank's management tried to stifle an internal report that found that its funds are vulnerable to theft and diversion.
Corruption isn't just about corrupt leaders and their private stashes. The international financial community is also part of the problem.
Heres the good, the bad, and whats next.