World Bank/IMF: Fifty Years Is Enough
The World Bank and the International Monetary Fund together have more power to influence development in the Third World than do any other institutions on the planet. For the last fifty years, tens of billions of dollars have been loaned to the poorest nations with the ostensible purpose of improving their quality of life. The net result, in most cases, has been disastrous. World Bank and IMF practices often usurp local development priorities. Staggering levels of debt burden countries that are already poor. The gulf between the privileged few and those clinging to survival has widened. World Bank projects and IMF-imposed structural adjustment programs displace millions of people and devastate the environment.
Lecture followed by interview by David Barsamian.
Recorded at the University of Colorado.
Danny Kennedy became an environmental activist in his native Australia at the age of twelve when he participated in a movement that stopped the construction of a large dam. He is a founder of Project Underground, the Berkeley-based organization that works with indigenous communities threatened by the mining and oil industries. He is a producer for Australian Public Radio and a member of the Action for Solidarity and Equality in Environment and Development.
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