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The World Bank and the International Monetary Fund

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Elizabeth Hiett

on 25 April 2011

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Transcript of The World Bank and the International Monetary Fund

The World Bank and the International Monetary Fund
Perceptions Through Media Latin America United States and
Europe Middle East
and Africa Asia, Pacific Islands
and Russia IMF Recipiant: Jamaica IMF Donor: Brazil Documentary: Life and Debt Print Media: "Blame the IMF"
Jamaican Observer World Bank Recipient: Indonesia Print Media: "Brazil New Contributer to IMF"
The Rio Times Online Print Media:
"Indonesia: World Bank palm oil strategy is reckless, say NGO's"
"World Bank funding of palm oil rousing controversy" Documentary :
Greasy Palms Broadcast Media: Interview with Paulo Sotero
Director of the Brazil Institute -Vilanized the process of getting a loan through the IMF
- IMF does not care about the interests of Jamaica
- Solidifies the globalization issue of western vs. non western or global north vs. global south
-No street lighting along the eight mile road named the elegant corridor
-IMF is blamed by Jamaican citizens as well as Jamaican politicians
-Continuing discontent with IMF
-Brazil switched sides from recipient to lender lending the IMF 10 billion US dollars in 2009
- The IMF is seen as a gateway for Brazil to increase its international influence and power
- This increased international influence and power Brazil hopes will allow them to break away from their reliance on the US dollar
http://riotimesonline.com/brazil-news/rio-politics/brazil-new-contributor-to-imf/ -BRIC: Economic grouping of Brazil, Russia, India, and China
-BRIC countries want more say in IMF and World Bank policies they feel it is western dominated Detractors Documentary 'The New Rulers of the World' by John Pilger Journalists Individuals Unaccredited individuals use YouTube, blogs and the radio to promote their own views regarding the bank. These views are often extreme and sensationalistic, yet the conspiracy theories remain popular. "The World Bank says it wants to help smallholders, but it needs to sort out our problems instead of investing in expansion. The draft document says nothing about how the Bank will address our concerns in Indonesia."
-the World Bank has imposed a freeze upon Indonesia’s funding into the palm oil sector
-one of the world’s largest suppliers of palm oil; over six million rural commoners rely on palm oil to earn a living
-Indonesia does not agree with the freeze of funds nor does it agree with the regulations the World Bank is implementing upon the nations' palm oil sector -Indonesia is upset with the margin the World Bank has created between the rich and the poor; it is overwhelmingly unbalanced Pop-Culture Movies and TV Shows often propogate the idea of financial institutions possesing shady political ambitions.
- The X-Files and NWO
- The International- starring Clive Owen http://antinewworldorder.blogspot.com/ Afghanistan Afghanistan Reconstruction Trust Fund
- Positive stance

- Discussed women’s empowerment, infrastructure, education, job creation, water access

- Emphasized the necessity of the WB’s programs to avoid the circumstances that would be faced without its policies

- Use of imagery

Article: World Bank, IMF: Helping peace or creating conditions for war?
- Negative stance

- Criticized World Bank and IMF of:
- Not listening to need of recipients
- Taking advantage of areas in conflict
- Instituting policies before government was stable,
leading to an unnecessary exacerbation on the economy
http://www.brettonwoodsproject.org/art-43345 Sub-Saharan Africa Novel: The Globalizers - Dual-perspective, negative stance

- Major arguments include: Misdiagnosis of the issues in Africa, conditionality, adverse long-term effects of policy, forced reliance, ignorance of political realities, standardized prescriptions, donor-controlled assistance Africa's Future and the World Bank's support to it
- Positive stance

- Spoke of the potential and the need for Africa to be the major actor
in its own success

- Claimed that consulting recipients was a belief that is at the heart of the World Bank’s work in Africa

Supporters http://www.state.gov/r/pa/prs/ps/2011/03/158835.htm United States State Department website
- Releases information regarding dealings between the American Government and WB/IMF
- Highlights the positive aspects of WB/IMF policies
- Optimistic about outcomes of new projects The World Bank's official youtube channel

-Targets an audience that may not follow official news sources
very closely
-Promotes the WB/IMF agenda in short, simple videos
-Highlights international problems and reveals the WB/IMF plan
to fix them IMF Recipient: Russia -wants to reform IMF
-negative circumstances emerging from the IMF’s regulations Online News Broadcast:
IMF and World Bank’s aid tightens noose around poor nations -Russia wishes to become independent from IMF http://rt.com/news/imf-world-bank-countries/ http://www.financialexpress.com/news/russia-wants-further-imf-reform-pankin/309541/0 The World Bank and the International Monetary Fund
Perceptions Through Media
Conclusion Online News Article:
Russia wants further IMF reform: Pankin
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