In July South African activists told IMF Managing Director Horst Köhler that the IMF was not welcome. They pointed out that the IMF made huge loans to apartheid South Africa during the late 1970s and early 1980s and called for the IMF to make reparations. The Campaign for Neoliberalism in South Africa concluded that the IMF has no role in a democratic society, and should begin the process of full debt cancellation and reparations for the enormous damage done to the region over the past few decades.
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.
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