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Tuesday, April 11, 2000

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  • Environmental Activists Arrested Protesting World Bank Policies

    Yesterday, seven activists were arrested after demonstrating outside the World Bank’s headquarters in Washington. They were protesting the bank’s environmental record, part of a week of rallies against the World Bank, the International Monetary Fund, and their effects on poor nations.

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    As demonstrations heat up in Washington around the IMF-World Bank in Washington, with a major labor rally planned tomorrow to protest China’s entrance into the World Trade Organization, today we take a look at the history of the World Bank and the International Monetary Fund. Many people use these names interchangeably, but the institutions were originally created for different purposes and with different agendas.

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    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.