Why do some people resent the World Bank and IMF?

Question

Why do some people resent the World Bank and IMF?

Answer 1

 

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Answer 2

For the same reason that people resent ALL banks. Bankers are parasites and interest is the tax you pay to them for everthing that is so hyper-inflated that you could never purchase it without a loan (15k for a subcompact car!!!). Bankers hold everyone who owes them in thrall. Who do you think holds all of the loans that have made up the dollars necessary for our huge deficit? That's right-the banks-now that's power! And every time the banks s***w up, like in the Savings and Loan debacle, the taxpayers have to foot the bill to bail them out. The same thing is about to happen with all of the subprime housing loans and we're going to get soaked for that too.

Answer 3

World Bank and IMF dictates the financial programs of countries like the imposition of higher taxes on the people if greatly indebted to them.

Answer 4

Because they are simply tools for American foreign policy.

Answer 5

The world bank was established as way of countries fixing the financial messes that they are in. Basically in exchange for recieving funds to fix the value of the currency , they have complete control over your countries economy. Its basically modern day colonialism, they can possess any property for private development , and through private corporations stablize the country, however its at the cost of mostly the people who occupy that country. Traditionally it is an American that runs the world bank and the IMF is run by an European.  Jamaica took out a loan from both the world bank and the IMF to fix the dwindling economy. As a result, the prime minister can not set his own interest rates whatsoever, as a matter of fact Jamacians have no say in there own economy or how the tourist areas are even built.

Step outside the tourist areas in and most of the time you will see the majority of jamacian people live in shanty towns, or below the poverty line.

The world bank and IMF are basically a modern day Colonialism. The native people pay the biggest price of all when a country recieves a loan from the WB or the IMF.  The banks are basically a door for private industry and it usually takes decades just to pay off the loan for whatever amount.

Answer 6

Maybe because  they try to dictate the pace for economic recovery  by asking the borrower-country to implement some income-generating schemes like increased taxes or value-added tax on products and services. And maybe,too, of the high interests of their loans.