Re: World Bank and IMF

Title: Message

Most basically, IMF provides short-term loans to states with fiscal problems, and of course forces them to implement SAPs that benefit TNCs and bankrupt local producers through "free trade" and reductions/elimination of subsidies, along with other cuts in local government spending, including education and health care.

The World Bank makes long-term loans to peripheral states for infrastructure projects, like dams, electric plants, etc.  Typically a TNC of a core country will get part or all of the contract for the project, and typically indigenous people or peasants will be displaced by these projects and most benefits will accrue to local and transnational elites.

 

I'm ignorant as to how significant the differences of IMF or WB policy are towards various country to country.  But from what I've read, they don't differ that much in that they consistently push forth a "free-trade," privatization, fiscal austerity, and export-oriented programs, aka corporate-globalization.

-----Original Message-----
From: wsn-owner@csf.colorado.edu [mailto:wsn-owner@csf.colorado.edu] On Behalf Of iskender
Sent: Wednesday, October 23, 2002 5:10 AM
To: wsn@csf.colorado.edu
Subject: World Bank and IMF

Excuse me if some of the fllowing questions sounds too naive or simplistic or plain ignorant.

 

1. Is there a systematic difference between the perspectives of the World Bank and the IMF with respect to projects and in general development of countries like Turkey, Argentina, Brasil and others? Can it be argued that a more European orientation dominates the World Bank as opposed to the American interest in the IMF?

 

2. What if any are the changes that ttok place in the IMF attitudes and policies towards Argentina over the past several mon ths, ie. as the likelihood of a PT (Lula) victory in the Brasilian elections have increased?

 

Thanks in advance,

Iskender Savasir