Is the World Bank Funding to the African Region Gainful or Wasteful? A Financial Management Case for Restructuring of the World Bank

10 Pages Posted: 7 Mar 2004

See all articles by M. R. K. Swamy

M. R. K. Swamy

Om Sai Ram Centre for Financial Management Research

Abstract

As the World Bank was essentially and originally established as a post-Second World War development - resurrection organization and as socio-economic and political conditions have changed dramatically and drastically from the mid-1940s and as the World Bank-financed developing countries' techno-economic problems have worsened, there is an urgent need for a major restructuring of the World Bank aims and objectives to tune to the realities of the present times with a view to tackle mounting and pressing problems of widening poverty gap within say a developing country by promoting grass-root economic development through self-sustainable economic development through village adoption scheme, provision of low-cost housing for low-income earners through co-operative societies and infrastructure development (mass literacy and health improvement programmes, etc.) - all geared to reduce poverty gap and bring the countries on organic development path. There is a strong financial management case for scrapping the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) in their present structure.

Keywords: World Bank, major restructuring, scrapping, poverty gap

JEL Classification: I32, I38, F34, F42

Suggested Citation

Swamy, M. R. K., Is the World Bank Funding to the African Region Gainful or Wasteful? A Financial Management Case for Restructuring of the World Bank. Available at SSRN: https://ssrn.com/abstract=513124

M. R. K. Swamy (Contact Author)

Om Sai Ram Centre for Financial Management Research ( email )

Mumbai
India

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