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What is the purpose of the World Bank?

Discussion in 'The Pub' started by Archaeon, Feb 16, 2012.

  1. Apparently being established after the first world war, this "world Bank" is designed to prevent poverty (....!! ..).. But get this...

    Considering that I have heard very little from this world bank over the years, and only becoming known to me in recent times, It has sparked my curiosity as to what exactly this world bank is, and what does it actually do? Who decided that they are the governing body of whatever it is they are apparently to govern, and why are they immune to all legal consequences, except the united states of America? (what makes them so special?)

    How does the IMF (International Monetary Fund) fit into all of this?

  2. The world bank is the clearing house for countries to loan money. It is generally run by a US person as they set it up as a mechanism to loan money to countries and get interest back. The US is the major funder and as part of that they required Veto rights.

    The IMF is roughly the European equivalent and usually has a european head as a matter of protocol.

    Both can loan to any country BUT often politics gets in the way of business. ;-)

    Probably some wikipedia article about it but I can't be arsed looking at the moment (sorry).

    Cheers Spocky
  3. I do work (on occassion) for Jobs that are funded by the World Bank. Typically in third world countries. So they are doing things.
  4. The controversy about both bodies is that they have a habit of tying funding to right-leaning social and economic reform. The poor country only gets the money if it agrees to open it's markets and resources to free trade.

    It is often claimed that the deals offered are more advantageous to the lender and investors than they are the the local population.
  5. Recently after they announced the end is ni they successfully knocked the stuffing out of The Australian Building Industry,brilliant job that.If there wasn't a problem before that announcement there is now.
  6. Errrr....Wot?
  7. The end is ni?!
    I didn't even notice the knights who say it!
  8. Actually, I have been wondering why they've been doing that.
  9. The Head of the World Bank made a statement about a week ago warning of an even bigger down turn.The bunch I work for have decided After hearing this I surmise to batten down the hatches and I bet lots more do the same,not smart talking any recovery down.I have lived through a half a dozen of these events in the last 30 years and they all start just after Christmas and usually with a major Construction Company falling over.Central Bank Governess absolutely need to be carefully making statement,this was the first time THAT bloke was quoted in anything I have read.
  10. IMO: The World Bank is basically just another way the few can control the masses: all they want is more ZERO's at the bottom of a page to jerk off to... because that's the only thing they CAN get off to, anymore.

    The World Bank and IMF is the mechanism the Rich use to fund anything and everything THEY want, to get more laws passed, to get the Gap even larger: They've widened it to the point where it's digustingly wieghed in their favor already, but like the song goes: Baby, you ain't sen NOTHING yet!

    If the Braindead Western World (mainly lead by Americans) done this "great" at pooling the majority of the worlds resources into the smallest proportion of the population, just IMAGINE what the REALLY industrial people of the world (namely the Eastern/Chinese) will do with 50 years of "Economical Growth"! After all, it might take them sometime to catch up, but anything the Yanks done, the Eastern Hemispere have ended up doing it Better, Quicker and Cheaper!
  11. Great for speculators in the stock market, have a look at europe for that.
  12. O yer,they make money bundling bad debts with good debts,they make money loaning to people who have zero chance paying it back,they make money upping your credit card limit
    to beyond the pale,they make money writing boggy reports talking up whatever there payed to talk up and my personal favourite,they make money when shares go down as well was up.
    And when the shit hits the fan they make money getting balled out by tax payers.
    And then go right back to doing the same crap again.
  13. There is no 'purpose' to the world bank. It's a bank like any other. It lends money to governments to fund projects and develop third world counties.