3. The IMF and the World Bank have "the brightest economists and the
lead in advising poor countries on how to break out of poverty, but
the problem is development economics". Development
economics needs the reform, not the IMF. He also notes that IMF loan
conditions should be paired with other reforms—e.g., trade reform
in developed nations, debt cancellation, and increased financial
assistance for investments in basic infrastructure. IMF loan conditions
cannot stand alone and produce change; they need to be partnered
with other reforms or other conditions as applicable.
Jeffrey Sachs argues in The End of Poverty
We need the World Bank, the IMF, all the big
foundations, and all the governments to admit
that, for 30 years, we all blew it, including me
when I was president. We were wrong to
believe that food was like some other product
in international trade, and we all have to go
back to a more responsible and sustainable
form of agriculture.
Former U.S. president Bill Clinton, Speech at
United Nations World Food Day, October 16,
2008
The World Bank along with the monetary system it
was designed within would promote world inflation
and "a world in which international trade is State-
dominated" when they were being advocated.
Henry Hazlitt
The so-called free market reform policies which
the Bank advocates are often harmful to economic
development if implemented badly, too quickly
("shock therapy"), in the wrong sequence or in
weak, uncompetitive economies.
Stiglitz
The World Bank and other international financial institutions
for focusing too much "on issuing loans rather than on
achieving concrete development results within a finite period
of time" and called on the institution to "strengthen anti-
corruption efforts".
The United States Senate Committee on Foreign Relations
• Rich countries are able to maintain high import duties and quotas in
certain products, blocking imports from developing countries (e.g.
clothing);
• The increase in non-tariff barriers such as anti-dumping measures
allowed against developing countries;
• The maintenance of high protection of agriculture in developed
countries while developing ones are pressed to open their markets;
• Many developing countries do not have the capacity to follow the
negotiations and participate actively in the Uruguay Round;
• The TRIPs agreement which limits developing countries from
utilizing some technology that originates from abroad in their local
systems (including medicines and agricultural products).
Martin Khor about WTO
4. • IMF, WTO and the World Bank must become one organization:
IMF must be on the head of this new structure,
need to stop duplicate functions of organization and create clear main
goals of every organization,
they need to have one capitalization and clear structure and approach to
reforms and support of countries,
clear connection between money and goods and knowledge.
5. • Deep reforms of every organization, for example, for the World Bank:
International Bank for Reconstruction and Development (IBRD) - in
structure of IMF
International Development Association (IDA) - in structure of IMF and
deep connection to budget of IMF (now IMF will have two budgets: for
charity and like bank for credit and development)
International Finance Corporation (IFC) – in structure of IMF
Multilateral Investment Guarantee Agency (MIGA) – more clear goals and
in structure and connection to IMF
International Centre for Settlement of Investment Disputes (ICSID) – clear
goals and in structure of IMF for improving influence of it.
IMF
World BankWTO
Control of the World Bank of KnowledgeControl of the World Market of Goods
Control of the World Finance System and Development of countries and the World
6. 4
1
2
3
Analysis of structure, pain points and all risks of
changes, discussion with employees on different
level (near 20 persons from Head Office of
every organization)
Start changes in WTO,
connection to IMF,
monitoring by Bi-oN
Start changes in
the World Bank,
connection to
IMF, monitoring
by Bi-oN
Create description
“as-is” and “to be”
of functional-
methodic attitudes,
Clear structure of
every organization
KPIs
5
Final changes in IMF,
monitoring by Bi-oN
7. Why Bi-oN (General director – Ivaniuk Natallia):
• > 10 years in reorganization and strategic consulting
• Successful changes of political, economical
structures and deep points of many organization and
countries (Russia, EC, USA and etc.)
• Deep understanding of problems world
organization and final picture
• Focus on results and always finish projects
Contacts:
E-mail: ivaniuk@bi-on.ru natali.mipt@gmail.com
Skype: natali11.mipt
Tel: 8 926 262 5113
twitter: @natali_mipt
