“The rich are getting richer and the poor are getting poorer.’’ The words of World Bank president James Wolfensohn only two months ago provide a harsh condemnation of the Bretton Woods institutions.
If the world is showing increasing inequity in terms of the disposition of assets and income, what have the Bank, the IMF, and their spawn – the regional development banks – been doing for the past 55 years? Many of the protesters at the spring meetings in Washington would say “not much”.
