Development as Leadership-led Change (World Bank Studies)
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The effect of structural adjustment policies on poor countries has been one of the most significant criticisms of the World Bank. Some of these policies included encouraging production , investment and labour-intensive manufacturing, changing real exchange rates and altering the distribution of government resources. Structural adjustment policies were most effective in countries with an institutional framework that allowed these policies to be implemented easily. For some countries, particularly in Sub-Saharan Africa , economic growth regressed and inflation worsened.
The alleviation of poverty was not a goal of structural adjustment loans, and the circumstances of the poor often worsened, due to a reduction in social spending and an increase in the price of food, as subsidies were lifted. By the late s, international organizations began to admit that structural adjustment policies were worsening life for the world's poor. The World Bank changed structural adjustment loans, allowing for social spending to be maintained, and encouraging a slower change to policies such as transfer of subsidies and price rises.
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Neither approach has addressed the inherent flaws within the global economy that contribute to economic and social inequities within developing countries. Some critics,  most prominently the author Naomi Klein , are of the opinion that the World Bank Group's loans and aid have unfair conditions attached to them that reflect the interests, financial power and political doctrines notably the Washington Consensus of the Bank and, by extension, the countries that are most influential within it. Among other allegations, Klein says the Group's credibility was damaged "when it forced school fees on students in Ghana in exchange for a loan; when it demanded that Tanzania privatise its water system; when it made telecom privatisation a condition of aid for Hurricane Mitch; when it demanded labour 'flexibility' in Sri Lanka in the aftermath of the Asian tsunami; when it pushed for eliminating food subsidies in post-invasion Iraq".
The World Bank requires sovereign immunity from countries it deals with. It is proposed that this immunity from responsibility is a "shield which The World Bank wants to resort to, for escaping accountability and security by the people. World Bank favored PricewaterhouseCoopers as a consultant in a bid for privatizing the water distribution in Delhi , India . From Wikipedia, the free encyclopedia. Not to be confused with World Bank Group. World Bank Chief Economist. List of World Bank members.
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Development as Leadership-led Change : A Report for the Global Leadership Initiative
Kennedy and Lyndon B. Johnson who escalated the Vietnam War . Lawyer, bank executive with Bank of America. Bank executive with J. Wikimedia Commons has media related to World Bank.