Many borrowers are turning away from the Bank, resulting in loans being repaid faster than new ones can be disbursed. Outstanding loans have dropped to a six-year low. But because of the repayments, the Bank has amassed the largest reserves of financial resources in its history. In recognition of this, and to get loan volumes up, it is starting to lower the fees it charges borrowers. Critics say the turnabout in financial performance has more to do with overstating its financial risks in 1998 as it sought to increase fees than with current performance.
15 November 2004
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The Bretton Woods Project is a UK-based NGO that challenges the World Bank and IMF and promotes alternative approaches. We serve as an information provider, watchdog, networker and advocate. Our flagship publications are the Bretton Woods Observer, a quarterly critical review of developments at the World Bank and IMF, and the Bretton Woods Bulletin, an online update of news and action on the institutions.
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