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Making aid honest.(Forgive the World Bank: But Don't Forget)(Brief article)(Book review)
Adam Lerrick, "Forgive the World Bank, But Don't Forget," AEI Development Policy Outlook, 2006 (aei.org)
A new study endorses debt relief for impoverished nations and root-and-branch reform of the World Bank. AEI scholar Adam Lerrick points out that the World Bank has turned the popular call for Third World debt relief into proposals to forgive debt by giving it extra funds. The World Bank has begun to admit that it has effectively practiced "debt relief" for decades, by making little effort to recover its bad loans to sub-Saharan nations.
There was always the pretense that repayments on these bad loans would be forthcoming in the future. But there was no rigor to the process. As Lerrick puts it: "An institution that poses as the missionary of transparency and accountability in the developing world has now been ...
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