Write a Letter to the Editor for Your Local Newspaper!

May 18, 2007

The king is gone, but the kingdom remains. The Wolfowitz scandal is just the tip of the ice berg when it comes to World Bank corruption, lack of legitimacy, transparency and accountability. While media coverage on the Wolfowitz scandal has been critical of the institution and its erstwhile President, the general assumption is that once Wolfowitz is gone, the World Bank will once again regain its legitimacy as the world’s largest “poverty-fighting” institution. It would be sad if after hundreds of articles written on this scandal, the World Bank ends up with an enhanced reputation.

~We need your help!~

Write a letter to the editor, of between 100-200 words, to your local newspapers.

Below are 3 letters written by our members, for your inspiration.

Mail, fax or email it to them, and send a copy to us at ruth@50years.org. Remember to include your name, phone number and email so the editorial staff can get in touch with you!
I sent this my local newspaper in Eugene, OR, this morning... before receiving your email!!

FROM LARRY LEWIN. EUGENE, OR

To the Editor:
So Paul Wolfowitz finally resigned as President of the World Bank.

He tried his best to pass off the blame for arranging a lucrative financial deal for his girlfriend, but in the end the heat generated by this nepotism was too much, and he was forced to step down.

Fine. But the more important issue here is not being reported: Namely, what is the role of the World Bank (and it's cousin the IMF) in relieving world poverty by boosting economic growth in developing countries?

The World Bank loans money to developing countries at interest rates that make a profit for the Bank. In other words, the wealthy developed countries (US, Europe) that control the Bank and IMF are making money from the poorer nations. Yes, the money flows from the South up to the North, the opposite of what one would think about relieving poverty.

To get these loans, the World Bank and IMF require poorer countries to make "economic structural adjustments" to their economies -- meaning they must cut spending on social investment in education and health for their populations. This, they are told, will attract global investment and stimulate global trade.

But the global trade game played by these leading institutions is: "You take down your trade barriers and we'll keep ours up." Yep, the cards are stacked in favor of the wealthy countries with their capital to increase the flow of more capital. They can require poorer countries to remove trade barriers as a condition for the loans, while continuing to protectionist barriers for their own companies. Sweet deal. Learn more at "50 Years is Enough" www.50years.org

As Naomi Klein wrote in her article "Sacrificial Wolf" for the Nation Online: "The Bank understandably wants to throw Wolfowitz overboard. I

~

FROM MATTHEW KAVANAGH. WASHINGTON,DC.

Real World Bank Controversy is Increase in Inequality, Not Wolfowitz’s Girlfriend

For advocates for peace and justice, the firing of Paul Wolfowitz is a good sign—except that it seems everyone’s talking about the wrong “controversy.” Maybe it matters that Wolfowitz gave his “companion” a $60,000 raise, but the real controversies are more at the heart of the World Bank and why, instead of ending poverty, its programs are increasing economic inequality.

After 60 years of the Bank, why is it not a controversy that poverty in Africa has increased, with the number of extremely poor people in Sub-Saharan Africa almost doubling since the 80s? Why is it not a major controversy that the Bank’s policies have done little to stop the 11 million children dying every year from treatable, preventable, and inexpensively dealt with health problems like diarrhea? Why is it not a controversy that in 1960 Africa was a net exporter of food but after decades of following the advice of the World Bank and Washington, today the continent imports one-third of its grain? And perhaps the biggest controversy of all--when we know that the solutions proposed by the World Bank are helping the rich a lot more than they are the poor, why do we continue to call it a poverty-fighting institution?

These are the kinds of controversies that should be getting the President, the staff, and perhaps the entire institution of the World Bank fired.

~

FROM ELIZABETH ROGERS. RONKONKOMA, NY.

The scandal over Paul Wolfowitz’s pay package for his partner is only the tip of the iceberg when it comes to the World Bank. Firing Wolfowitz is not enough.

The World Bank, the largest development institution in the world, is run by the richest countries in the Global North: the U.S. holds veto power over all decisions made, the Bank president is always nominated by the U.S., and board meetings are closed to the media.

The Bank must cease functioning as a political tool of wealthy countries andseize this opportunity to become more accountable and democratic.

^TOP

50 Years Is Enough Network - 3628 12th St NE, Washington, DC 20017 USA
Tel: 202-IMF-BANK (202-463-2265) Email: info@50years.org