Sunday, March 27, 2005

Wolf Bank

Professor Vikash Yadav of Foreign Exchange commented on Bush's nominee to head the World Bank. He disagrees with the choice of the nominee, but find that Wolfie's opponent concern that he would "politicizes" the World Bank is absurd.

"While I strongly disagree with the Bush administration's choice of nominee, I dofind the fear of "politicizing" the Bank a bit odd. It was the US attempt to use the World Bank to fight the spread of communism during the Cold War that gave the institution the focus it has today..."

He has no issue with using the World Bank as a plitical instrument but it should be agreed and discussed upon by all concerned parties.
"Masking the politics of an institution like the World Bank in the cloak of technocracy will not change reality. Economic institutions are never politically "neutral." The issue is not whether or not the World Bank should be politicized since it has been for a long time (if not since its birth), but how much politics is allowed. If the US wants to use the Bank as part of its agenda then other parties should be allowed to debate that objective and propose alternative agendas."
So if the US want to use the Bank as an instrument to spread Democracy, she should be able to, as long as Europe agrees to the goal and methodology and be active participants in the process.

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