The World Bank: A Critical Primer

The World Bank is a controversial organization. It is widely viewed with suspicion, as the international economic arm of the US, in thrall to the President who is responsible for appointing the head of the Bank. Eric Toussaint gives a highly readable account of just why the World Bank has become so powerful. In short, clear chapters he shows how the bank operates,who funds it, and what is sets out to promote. The Bank's main purpose is to grant loans to all newly independent states of the developing world, to help them on their journey to recovery after colonial occupation. In reality, the conditions imposed on these states-including enforced privatization of all public services, and enforced neo-liberal rules on trade-mean that the Bank has become the new colonial authority in everything but name. This is a perfect book for anyone looking for a crtitical introduction to the history of the Bank and its role in world affairs.