Dear Democracy Now! Visitor: We are an independent, ad-free daily news program that serves millions of viewers and listeners each month. Our show is special because we make it our priority to go where the silence is. We put a spotlight on corporate and government abuses of power and lift up the stories of ordinary people working to make change in extraordinary times. We do all of this with just a fraction of the budget and staff of a commercial news show. We do it without ads, corporate sponsorship or government funding. How is this possible? Only with your support. If every visitor to this site in December gave just $10 we could cover our basic operating costs for 2015. Pretty exciting, right? Please do your part today. It takes just a couple of minutes to make sure that Democracy Now! is there for you and everybody else in 2015.

Your Donation: $
Tuesday, April 11, 2000 FULL SHOW | HEADLINES | PREVIOUS: Teach-in On World Bank and International Monetary...
2000-04-11

Activists Announce Boycott of World Bank Bonds

download:   Audio Get CD/DVD More Formats
DONATE →
This is viewer supported news

There is a campaign underway to boycott the purchasing of World Bank bonds. The bank, together with the IMF, is one of the most powerful financial institutions in the world. It formulates and enforces major economic policy decisions for over 75 mostly poor countries.

Critics of World Bank policies say that the institution has hurt people’s livelihoods, harmed the environment, and has disempowered women throughout the world. One policy that critics point to is structural adjustment, a set of economic policies that the bank requires of developing countries when it grants loans to them. These include austerity measures such as high interest rates and reduced access to credit. This results in slow economic growth, and increased poverty and unemployment. Other adjustment policies include cuts in government spending on health care and education, and increase in food costs.

The World Bank raises almost all of its money from private financial markets. Eighty percent of their funding comes from World Bank bonds. The bonds are owned by private investors such as retirement funds, university endowments, churches and local governments.

Guests:

  • Kevin Danaher, from Global Exchange and author of the books ??Corporations Are Gonna Get Your Mama: Globalization and the Downsizing of the American Dream and ??Globalize This! The Battle Against the World Trade Organization. Call: 202.822.1180.
  • Vineeta Gupta, from 50 Years is Enough Campaign.

Related links:

??
??
??
??
??
??
??
??

Recent Shows More

Full News Hour

Creative Commons License The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to democracynow.org. Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.