An examination of whether the World Bank is an effective organization in the international economy.
This paper examines the role of the World Bank in alleviating countries from economic dilemmas. It concludes that the World Bank, ever since its inception, has not been able to address the problems that its member countries face nor has it been able to successfully implement structural adjustment programs. It explains that, instead, it merely played the role of a mediator for the private sectors of the donor countries and the receiving countries.
“Ever since inception, member countries and countries that resorted to the World Bank for this purpose have time and gain faced disappointment. Some of the main factors responsible for the disappointment had been perception of the problems involved, bureaucracies, coordination, corruption and disconnection. These areas have been ignored and gradually have become the leading causes for the Bank’s failures in addressing structural adjustment problems (Robert, 2000). Currently the World Bank is facing a lot of adverse publicity due to this same fact which leads the readers to question whether the existence of the Bank have any usage if at all and why do the world communities continue to rely on the World Bank for economic reformation.”