Poorest countries in worst financial shape since 2006, World Bank says
Al JazeeraOCT 2024
Since its inception, the World Bank has played an instrumental role in global economic development. The investments from the bank play a crucial role in global infrastructure projects and some of its initiatives play critical roles in helping fragile and conflict-stricken states. This essential work must continue.
The World Bank and its policies are not devoid of criticism and controversy. The bank's loan policies contribute to a damaging cycle of loan dependency, in which recipient countries become continuously dependent on external financing. Additionally, the bank's neoliberal principles are extremely Western-centric, contributing to this uneven power structure between the global south and the rest of the world.