The World Bank is self-sufficient for internal operations, borrowing money by direct lending from banks and by floating bond issues, and then loaning this money through IBRD and IDA to troubled countries. They are well-known for issuing "bridge loans" to central banks in countries where IMF or World Bank money is pledged but has not yet been delivered. These bridge loans are then repaid by the respective governments when they receive the funds that had been promised by the IMF or World Bank. If the country were a patient in a hospital, the treatment would include a transfusion and other life support measures to just keep the patient alive -- full recovery is not really in view, nor has it ever happened. One must remember that rescue operations would not be necessary if it were not for the central banks, international banks, the IMF and the World Bank leading these countries into debts they cannot possibly ever repay in the first place. It aims to prevent crises in the system by encouraging countries to adopt sound economic policies; it is also—as its name suggests—a fund that can be tapped by members needing temporary financing to address balance of payments problems.
Gold Anti-Trust Action Committee | Exposing the long-term manipulation of the gold market
Dictionary of European proverbs Volume 2 ed. Conceal not the truth from thy physician and lawyer. Al mentiroso le conviene ser memorioso. A liar should have a good memory. The Facts on File Dictionary of Proverbs.
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