Sunday, October 02, 2005

International Development: Economist claims World Bank and IMF pillage the Third World

Prensa Latina reports that Senegalese economist Dembe Dembele, has told the "North-South Encounter on Resistance and Alternatives to Foreign Debt," that the World Bank and the International Monetary Fund have pillaged the Third World through the foreign debt.

Representatives meeting in Havana in yet another talk-fest to discuss strategies for the foreign debt, heard that the WB and the IMF ignored the development of the poor and indebted countries.

He also claimed that financial packages exclude the needs of the underprivileged, and that many NGOs succumb to measures that benefit the market, but play down people's needs.