Wolfowitz at the World Bank: Unilateral Policy on Ecuador and Pakistan

[Yoshie Furuhashi <furuhashi.1@xxxxxxx>]

A superb article on Paul Wolfowitz at the World Bank is now on the
homepage of MRZine.org: <http://mrzine.monthlyreview.org/
anonymous250805.html>.  (The author has been a senior official in
this field and must withhold his identity.)  Wolfowitz's first public
actions at the World Bank -- unilaterally suspending a loan to
Ecuador (two days after Ecuador announced its decision to rescind
Occidental Petroleum's contract) and increasing lending to Pakistan,
in violation of established WB procedures, in contradiction to
recommendations of WB and IMF analysts (as well as country risk
assessments of international financiers), and in transgression of the
Concordat between the WB and the IMF -- clearly demonstrate
Washington's determination to transform the WB into a direct tool of
unilateral US policy (as opposed to multilateral elite interests),
while ensuring that any country that happens to enjoy windfalls from
higher oil prices (or anything else) will be giving them all up to
creditors, rather than spending them on social needs.

Yoshie Furuhashi
<http://montages.blogspot.com>
<http://monthlyreview.org>
<http://mrzine.org>
* Mahmoud Ahmadinejad: <http://montages.blogspot.com/2005/07/mahmoud-
ahmadinejads-face.html>;  <http://montages.blogspot.com/2005/07/chvez-
congratulates-ahmadinejad.html>; <http://montages.blogspot.com/
2005/06/iranian-working-class-rejects.html>