CRITISIM ABOUT IMF AND WORLD BANK
Critics of the World Bank and the IMF
are concerned about the ‘conditionalities’ imposed on borrower countries. Often the
conditionalities are attached without due regard for the borrower countries’ individual
circumstances and the prescriptive recommendations by the World Bank and IMF fail to
resolve the economic problems within the countries. As a example author is using Ecuador
that is a small country in South America. In 1968- 1998 IMF and World Bank interviened
with large loans to help the country but the growth of poverty increased form 50% to 70%,
under or unemployment 15%to 70% and the public debt grew from 240 million to 16 billion
(Perkins, 2004, lk 239). This essay is going to explore how this kind of thing could have
happened? The idea is not to blame well-known organizations. The idea is to observe and
explain what happened to Ecuador and discuss if the criticism about this matter is grounded.
annaabi.ee 
