IMF - Anti-Corruption Champion?
Bonzom, Marie-Christine, African Business
After turning a blind eye to corruption for decades, the IMF and The World Bank have now suddenly gone moral. What is behind this radical change of posture and what are the implications?
"No tolerance for corruption." "Corruption is a cancer." These were not slogans from street demonstrators but proclamations by the bicephalous leadership of the Bretton Woods institutions, International Monetary Fund (IMF) Managing Director Michel Camdessus and The World Bank President James Wolfensohn respectively.
After decades of turning a blind eye on the corrupt practices of many governments, such as President Mobutu's in the former Zaire, and on their destructive effects on their countries' economies and populations, the IMF and The World Bank are now increasingly vocal about the need to tackle corruption. Both institutions are applying new …
Questia, a part of Gale, Cengage Learning. www.questia.com
Publication information: Article title: IMF - Anti-Corruption Champion?. Contributors: Bonzom, Marie-Christine - Author. Magazine title: African Business. Issue: 226 Publication date: November 1997. Page number: 14. © 2009 IC Publications Ltd. COPYRIGHT 1997 Gale Group.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.