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Commission,

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Meltzer

Operations Evaluation Department, World Bank, "1999 Annual Report of Development

Effectiveness", 2000 http://www. worldbank.org/html/extpb/annrep99/

Report,

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25% ,

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: Mark Weisbrot, Dean Baker, Egor Kraev and Judy Chen, "The Scorecard on Globalization 1980-2000:
Twenty Years of Diminished Progress", Center for Economic Policy Reasearch, 11.07.2001.

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MONETARY AND FISCAL REGIMES IN HISTORICAL PERSPECTIVE. The international evidence. novembar
2000. godine, http://swopec.hhs.se/hastef/papers/hastef0415.pdf

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http://www.twnside.org.sg/title/crotty1.htm
7
"A New Approach to Country-Owned Poverty Reduction Strategies", The World Bank and the
International Monetary Fund, January 2000.
http://www.wds.njorldbank.org/servlet/WDSContentServer/WDSP/IB/2000/05/31/000094946_00051305473463/Rende
red/PDF/multi_page.pdf

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Fund, January 2000.
http://www.wds.njorldbank.org/servlet/WDSContentServer/WDSP/IB/2000/05/31/000094946_00051305473463/Rende
red/PDF/multi_page.pdf

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Neil Blake and Jane Croot The Republic of Ireland's Economic Success, Are There Lessons for Northern Ireland?
DFP Economics Website, Quarterly Economic Report 2000
http://www.dfpni.gov.uk/economics_division/reports/ljuarterly/sept2000/c4sept00.htm

: EU STUDY GROUP ON EDUCATION AND TRAINING, REPORT ACCOMPLISHING EUROPE

THROUGH EDUCATION AND TRAINING , 1999.

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http://www.imf.org/external/np/tr/2000/TR000412.HTM

 . . PRSP
, ,
.

World Bank and the IMF in the fight against poverty

Mr. Neboja Balaban, B. Sc. EC.
Abstract: Declarative approach of the IMF and World Bank to the actions against world poverty
would be approving, if there were not the results of these institutions in the last twenty thirty
years. They themselves partially recognized their failure in that field. Their reports are undoubtedly
talking about such a situation, and even said that it was "probably one of the greatest economic miss
of the twentieth century."

Initiatives of the World Bank and IMF for economic development and against poverty in that period
are solely linked for the structural adjustment programs that were based on the neoliberal economic
thinking. That has created not only the crisis in individual countries and regions, but also the global
financial and economic crisis unknown in modern history.
As access to the World Bank and IMF in the fight against world poverty, the PRSP initiative so
often filled with neo-liberal doctrine. It says that this initiative is only empty rhetoric and that is just
a cover for structural adjustment as we have seen until now. Possibility to achieve success in this
way is not very large.
However, if they changes the approach and if it is steered to economic theory by which long-term
development depends to a greater extent than the quality of human resources, i.e. accumulation of
human capital, which in practice has been proven to be successful, it is possible successful
outcome.
Key words: poverty reduction, international financial system, the International Monetary Fund,
PRSP, World Bank, structural adjustment, economic development, human capital

1. Crotty, James, Neoliberal regime has failed, need to change course,

http://www.twnside.org.sg/title/crotty1.htm
2. EU Study Group on Education and Training, report ACCOMPLISHING EUROPE THROUGH
EDUCATION AND TRAINING , 1999.
3. Federal Reserve Bank of Cleveland, Is the dollar overvalued?
http://www.clev.frb.org/Research/Et2002/0202/dollarover.pdf, 2002.

4. IMF Official Transcript, 12.04.2000. press conference on World Economic Outlook 2000.
http://www.imf.org/external/np/tr/2000/TR000412.HTM
5. International Financial Institution Advisory Commission, The Meltzer Report,
http://www.house.gov/jec/imf/meltzer.htm
6. Kakwani, Nanak: Income Inequality, Welfare, and Poverty: An Illustration Using Ukrainian Data
http://www. worldbank.org/html/dec/Publications/Workpapers/njps1411
7. Mark Weisbrot, Dean Baker, Egor Kraev and Judy Chen, The Scorecard on Globalization 19802000: Twenty Years of Diminished Progress, Center for Economic Policy Reasearch, 11.07.2001.
8. , "World Economic Outlook, 2000"
www.imf.org/external/pubs/ft/weo/2000/01/
9. Michael D. Bordo and Lars Jonung: A RETURN TO THE CONVERTIBILITY PRINCIPLE?
MONETARY AND FISCAL REGIMES IN HISTORICAL PERSPECTIVE. The international
evidence. 2000. , http://swopec.hhs.se/hastef/papers/hastef0415.pdf
10. Murphy, Antoin E., The Celtic Tiger An Analysis of Irelands Economic Growth
Performance, European University Institute, Working Paper RSC 2000/16
11. Neil Blake and Jane Croot The Republic of Ireland's Economic Success, Are There Lessons for
Northern Ireland? DFP Economics Website, Quarterly Economic Report 2000
://www.../_//y/2000/400.
12. Operations Evaluation Department, World Bank, "1999 Annual Report of
Development Effectiveness", 2000
http://www.worldbank.org/html/extpb/annrep99/
13. Pitelis, C., Supply-side Strategy for Productivity, Competitiveness and
Convergence, PHARE-ACE , 2001.
14. The World Bank and the International Monetary Fund "A Nenj Approach to Country-Onjned
Poverty Reduction Strategies", January 2000.
http://www.wds.worldbank.org/servlet/WDSContentServer/WDSP/IB/2000/05/31/000094946_0005
1305473463/Rendered/PDF/multi_page.pdf
15. UNITED NATIONS INDUSTRIAL DEVELOPMENT ORGANIZATION
BUILDING PRODUCTIVE CAPACITY FOR POVERTY ALLEVIATION IN LEAST
DEVELOPED COUNTRIES (LDCs) The Role of Industry Vienna, 2001