DEVS 100 Lecture Notes - Lecture 9: African Development Bank, Anti-Globalization Movement, Bretton Woods Conference

• School: Queen's University
• Department: Global Development Studies
• Course: DEVS 100
• Professor: David A Mc Donald

Document Summary

Devs 100: week 6 lecture 1: tuesday october 17, 2017. Multilateral development banks: world bank and the international monetary fund. Strong keynesian influence colonies/third world had no real voice. Loans money to countries in temporary crisis: balance of payments. Shifted focus to the south in 1950s-60s. Infrastructure lending that private banks will not support. Voting weighted by size of member"s economy. Current wb president: korean-american physician and anthropologist jim yong kim. Others: jose antonio ocampo: former finance minister columbia, ngozi iweala former finance minister, nigeria. No longer just banks , promoting policies for development. Wb takes on debt of private banks. Challenged by conservative gov"t in the north. Total lending in 2015 was billion. Aid does not work, and never will: feeds into corruption, distorts markets and holds back real development. Alternatives from critics on the right emergency aid only. More business like approach to how aid organizations are run.