NGOs Blame World Bank for global crisis

Tuesday, October 21, 2008 - 14:07

Several Indonesian NGOs are blaming the World Bank for the current global financial crisis.

Comments

That is absolutely true,

By Mhlongo

Tue 4 Jan, 2011 - 14:13

That is absolutely true, another fact that is at times overlooked is that when repaying; you actually repaying double the amount you took on loan! I wish that people would think twice before going for the easy cash.

Debt Solutions

By megous

Fri 31 Dec, 2010 - 13:24

Debts, loans, finances taken from outside, these things give you financial support when you really need it. But had you ever thought that repaying them is also your responsibility. --------------------------------------- Debt Solutions

Several Indonesian NGOs are blaming the World Bank for the current global financial crisis.

"Every year, the billions of dollars in debts have been used to finance projects such as building big dams and development of agrofuels which will harm the atmosphere and climate, as well as the environment", says activist Devie R Ayu.

NGOs blame rich countries, who they argue, through the World Bank and their transnational companies, have used developing countries’ indebtedness to absorb economic resources of these countries, leading to the current climate, financial and food crises.

To read the article titled, “NGO blames World Bank for global crisis,” click here.

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Article link:

http://www.antara.co.id/en/arc/2008/10/16/ngo-blames-world-bank-for-global-crisi...