IFI governance


World Bank contributes $2bn to Washington

8 May 2002

A study from George Mason University has found that the World Bank generates $2 billion in economic activity annually for the Washington DC region. This figure includes $851 million paid to nearly 14,000 employees, consultants and contractors, and $217 million paid for goods and services. According to the study’s author, Professor Stephen Fuller, “if the Bank left to another world capital, there would be a hue and cry about the loss of jobs and income.” Perhaps the next time the US Congress threatens to withhold funding, IFI campaigners should lobby to move the bank-after decades of interest payments many Southern capitals could use the cash.

How the Global Economy’s Rule Makers Thrive on Subsidies from an Impoverished and Disenfranchised City, Fifty Years is Enough! campaign to tax the World Bank and IMF