And then the World Bank will write-off that debt under their Heavily Indebted Poor Countries Initiative (HIPC): http://goo.gl/iaQfJ
The fact that the US has a lot of control over the World Bank seems reasonable given that they put up the lion's share of the capital. As far as dictating terms and conditions, regardless of their merit, there aren't many banks that will give million dollar loans to bad credit risks w/o strings attached. What's the alternative scenario? No bank? They just give out money?
The fact that the US has a lot of control over the World Bank seems reasonable given that they put up the lion's share of the capital. As far as dictating terms and conditions, regardless of their merit, there aren't many banks that will give million dollar loans to bad credit risks w/o strings attached. What's the alternative scenario? No bank? They just give out money?