Mittwoch, 02. März 2005

How the fox keeps the geese
The World Bank and the IMF as experts in debt negotiations

The World Bank and the IMF are not only important creditors to many countries in the South. Beside their role as sources of lending they play another one, which is equally essential for countries, that depend on foreign capital inflows: They act as “independent experts”, when it comes to negotiations after a country has become unable to service its obligations on schedule. This article analyses the record of the two Washington based institutions with regard to that latter role...