So What Does The World Bank Do Exactly?

Galactic Free Press's picture

By James Corbett

Guest Writer for Wake Up World

...all of this talk about a potential rival to the IMF and World Bank have exposed the general public’s ignorance about what exactly these institutions are and what they do.

While most are familiar with the IMF and its predatory lending practices (and those who aren’t are encouraged to acquaint themselves with the “IMF riot” strategy that was developed in the third world and is now being imported to Europe), the World Bank is less scrutinized and less understood. What is it, what does it do, and why is it important for the BRICS to challenge its hegemony in the development and poverty reduction arenas?

For the answer to that, we’ll need to examine the World Bank’s history, both the official history that it touts to the outside world and the real history of its part in plundering the developing world that it is supposedly there to help.

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