Question

Which world view provides the strongest* explanation of the World Bank and other development policies beyond the World Bank? Give examples. Also which world view provides the weakest** explanation of the World Bank and other development policies beyond the World Bank? Give examples.

Liberalism、Nationalisism、Marxism

Answer 1

World Bank is the Finance Lending Institution at the International Level. World Bank is the part of the World Group. It is considered one among the Apex Bank in the International Level. The World Bank was found in 1944. Bretton Woods Conference paved the existence of the World Bank. The Head Quarters of the World Bank situated in Washington. In the Bretton Woods Conference, The Aims and Objectives of the World Bank was framed in the Bretton Woods Conference. They are listed as 1) Eradicating Poverty 2) Providing Food Security 3) Ensuring Environmental Protection 4) Providing Health Safety 5) Supporting and Improving the Women Empowerment across the World. 6) Ensuring Equal Rights for the Education and 7) Eradicating Child Labour throught out the World and Ensuring the Quality Life to the Children below the Age 14.

Let us discuss the description of Development Policies actuated in African Country. With the support of the World Bank Fund, Under-priviledged people in the Ghana, Zimbabwe, Central African Republic, Chad, Comoros, Guinea, and Niger were benefitted through Country Policy and Institutional Assessment (CPIA) wing of World Bank in association with the Government Agencies and other NGOs of the above mentioned Countries. The Policy monitored the Economic Management of the Country in order to ensure the Good Rapo between the Bank and the Countries to ensure the status of zero-interest financing for the countries. African Countries witnessed the poor economic level throughout the World. CPIA Wing fully determined the score of allocating the funds to the African Countries to get zero-interest financing.

The above mentioned facts revealed the positive view of Policies adopted by the World Bank.

One period witnessed with the Critical Economic Funding Problems vesting with the Developing Countries like Portugal, Greece, Cyprus and  Ireland. Those Countries had so many Economic Rivalry with the Eurozone Powerful Countries. They pressurized the World Bank not to allocate funds to the above mentioned Countries. Especially Greek Country which lost the Credibility of its own. Its Repaying Capacity of the Fund was entirely nullified. This situation flashed over all other neighboring Eurozone Countries - which are developed in nature.

The Debt ratio of the Greek Country with the World Bank was entirely shattered and Fund was utmost locked in the IMF fund. IMF is an subsidiary bank of World Bank. IMF (International Monetary Fund) was found indifferent to depreciate the debt ratio of the Greece Bank. Almost already 130 million euros borrowed from a European Country and 50% of them as bought as bonds. But the ineffective Financial Ministry of Greece not even forwarded a single step to repay the amount. Instead they tried to sell the bonds without any paying the Loan Amount in Advance. This was the cruel act againt the Justice of Repayment.

The above mentioned negative aspect of the World bank are against the concept of Liberalist, Nationalisism and Marxism. There should a Economical Condition should favor all the Developed and the Developing Countries in the World.