In June, several protesters and journalists were injured after clashes with police in Asuncion, Paraguay, on the first day of a 48-hour general strike against plans to privatize telephone, water and railroad companies. The privatizations are part of a series of “non-negotiable” measures demanded by the World Bank and IMF, which must be implemented before the government can access $400 million in loans from the World Bank.
Originally created to help the poor escape poverty and deprivation, the World Bank became the most important advocate for the commercialised microcredit model. Yet, critics argued it undermined the chances of sustainable and equitable development to create a poverty trap of historic proportions.
While the World Development Report (WDR) 2018 on education has some redeeming features, it is part of the Bank's longstanding very narrow view of education, and is silent on education financing.
Donate to the Bretton Woods Project
The Bretton Woods Project is an ActionAid hosted project (UK registered charity no. 274467).