Our friends at the Bank

This documentary shows how Uganda in 1995-1997 tries to come to several agreements on
the development of the country with the World Bank and other donors through the World
Bank. We see how it entails a lot of discussions and meeting with the WB, IMF and the
government of Uganda having different interests and priorities. Minister of Finance in name
of the president Museveni prioritizes clearly the building of new roads rather than investing
in education with the argument that a out of a better economy better education and health
will follow, first roads. Focus on one thing, not on two else you ll lose the fight the president
Musevgeni says referring to Mao Tsedung. The Bank on the other hand tries to convince
them to put more effort in social development, that else you will have uneducated people
on your roads and implying that this will not benefit the development of the country. The
minister of finance later points out that the development of one sector should not squeeze
the other sectors. Defence is another big priority of the government, Uganda at that time
having unrest in the North of the country. The World Bank has the money and thus a sort of
power of negociation, but has also to respect the sovereignty of the country. They ( and the
donor countries) ask for more transparency in the Defense expenses of the Ugandian army
but do not really get it. In the end they come to an agreement for the budget, though no
details are given on the budgeting, and the WB grants the loan.
After WWII, Europe was devastated and needed money for reconstruction. So were the WB
or International Bank for Reconstruction and Development formerly created and the
International Monetary Fund. The so called Bretton Woods Institutions.
The main goal of WB at first was to relaunch the European economy, now eradicate poverty
in the world by providing loans and funding to countries in need (low and middle income).
Raise income of the poorest. It has shifted her focus not only to building infrastructure but
also investing in food programs, health and education. They work together with
governments and institutions to develop country.. Also private banks and international
organisations. However there is some criticism on the bank since due to some of their
projects millions of people have been evicted, secondly loans go to corrupt leaders and the
power still lies with the western countries

IMF lender of last resort, stabilizes international monetary systems and sets international
economic policies in member states, monitors exchange rates, fosters global financial
cooperation.One nation destabilizes- could have domino effect, IMF tries to prevent
this.Tends to serve more western interests. Crisis 2008 Africa hit extremely hard. Greece,
Ireland and Portugal biggest lowers. More investing, more votes… Countries forced to agree
with austerity measures, not necessarly in best interest of country.
Their priorities versus your priorities. They are the funders, have a lot of influence.
From the beginning on of the project, analyse what their requirements are, evaluate them,
are they feasible eventually go in discussion with them, with evidence that some
requirements are not feasible or not beneficial for the project.