ISBN 9782869781597
Pages 96
Dimensions 229 x 152 mm
Published 2005
Publisher CODESRIA, Senegal
Format Paperback

When Reality Contradicts Rhetoric

World Bank Lending Practices in Developing Countries in Historical, Theoretical and Empirical Perspectives

by Jean-Germain Gros, Olga Prokopovych

The authors provide a compelling and balanced critique of the world’s largest multilateral development lending agency in the context of globalization and the increasing domestication of market-based economic reforms. Adopting a tripartite historical, theoretical and empirical approach the study shows how the Bank is still moored in neo- liberal market ideology and western hegemony, lacks transparency and democracy in its workings, and boasts ‘pro-poor’ policies that are little more than empty rhetoric. They conclude that the Bank must be radically transformed to meet to improve its record on lending to poor countries, as well as to deal with the sharpened problem of poverty ushered in by globalization.

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'...innovative, comprehensive, and, more importantly, entirely convincing. The weight of the compelling empirical evidence the authors provide is guided by a theoretical critique that provides one of the most cogent analyses of World Bank lending to date. of the most exhaustive and insightful studies in the broader field of political economy.'

Dr. Cyril I. Obi, Nordic Africa Institute, Uppsala

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