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NEWS: World Bank Sets Sail On New Course

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posted on Sep, 24 2005 @ 07:23 AM
The president of the World bank Paul Wolfowitz, who was appointed by the Bush administration, will today present his maiden speech at the joint bi-annual meeting of The international Monetary Fund (IMF) and The Wolrd Bank. He is expected to demand tangible results from programs designed to fight poverty in third world countries and especially focus on Africa. He is believed to call for political accountability and according to a pre released text of the speech will speak of effective leaders being accountable to their people.
By pushing results-driven programs, Mr Wolfowitz will be responding to a long-standing US government objective that was a source of friction between former World Bank president James Wolfensohn and the Bush Treasury Department.

The Bush administration clashed with Mr Wolfensohn over the bank's lending practices.

The administration wanted more evidence that projects were reducing poverty and not being wasted in ill-conceived programs or bureaucracy.

"If we can help liberate the energies of the African people and unleash the potential of the private sector to create jobs, Africa will not only become a continent of hope but a continent of accomplishment," Mr Wolfowitz will say.

Mr Wolfowitz will call for political accountability.

"Effective leaders also recognise that they are accountable to their people," he will say, according to the text.

"Effective leaders listen. Institutions of accountability like civil society and a free press help leaders listen, hold them accountable for results and are key to controlling corruption."

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There are a few too many wolf's at the World Bank. While all this is great for a speech and good on paper, unfortunately The World Bank has a sinister conotation in many regards on the world economy today. It is one thing to call for accountability but quite another to enforce it and time will tell if that rings true with the World Bank.

[edit on 24-9-2005 by Mayet]

posted on Sep, 24 2005 @ 04:11 PM
the World Bank and the International Monetary Fund's lending policies have NEVER helped a poor country lift itself out of it's poverty....considering their Draconian policies, they act more like global loan sharks than anyone else. Bush, Wolfowitz....more of the same.

posted on Sep, 24 2005 @ 06:17 PM
Time and again the WB/IMF puts forth a "humanitarian" effort, yet behind closed doors and away from the MSM they are literally killing nations. By requiring them to levy 95%+ tarrifs on water/electricity to pay the multi-national corporations 100 fold what they contribute. They are enforcing draconian policies on third world nations by requiring a permit to collect rain water. This is far from doing the right thing in my opinion.

Google Search: world bank water privatization

*Edit to include a link to over 1.6 million results.*

[edit on 24-9-2005 by DjOsiris]

posted on Sep, 24 2005 @ 11:04 PM
Meanwhile past the elevated rah rah Wolfie speeches, the World Bank and IMF force poor countries to liberalize unilaterally and undermine their position in the World Trade Organisation.

Slavery is still slavery, no matter how much whitewash you paint over it.

Critical World Bank report could cripple Britain's debt relief plan

The much-vaunted British initiative to wipe out the debts of the world's poorest countries, approved by the G8 club of wealthy nations at Gleneagles in July, has come under threat ahead of next weekend's World Bank annual meeting.

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[edit on 24-9-2005 by Regenmacher]

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