Tag: World Bank

It’s time for the World Bank to close its doors

(October 22, 1996) For more than decade, citizens’ groups around world have been trying stop World Bank from wreaking environmental havoc, financial ruin, social harm throughout Third World. Bank’s charismatic president, James Wolfensohn, has pledged change “culture” Bank increase “openness, partnership, accountability, effectiveness Bank.”

A troubling deposit at World Bank

(November 29, 1995) For 5O years government guarantees have allowed the World Bank and its sister development banks to amass the world’s riskiest loan portfolios. Three months ago, the weakest of these sisters, the African Development Bank, was downgraded. And now for the first time, the World Bank admits that many of its own loans can’t be paid back.