Follow the Money
03/07/2008The World Bank’s recent record in Kenya should raise eyebrows.
In an important editorial, The Wall Street Journal throws the floodlights on the World Bank’s recent record in Kenya, a country that has been torn apart by violence ever since its disputed national election in December. As the Journal notes:
“Corruption in Kenya isn’t exactly shocking news. But the depredations of the last two months were shocking, and they were largely the product of a culture of corruption…to which the World Bank has contributed more than its share, and to which Americans are still being asked to contribute through U.S. appropriations for the bank. Is it too much to ask for even a little Congressional oversight?”
Last month, American Enterprise Institute resident fellow Roger Bate wrote about Kenyan corruption for THE AMERICAN online. “It is well known that over the past few decades the World Bank loaned money on four separate occasions to different Kenyan governments for the same agricultural reform program,” Bate said. “Each time, World Bank insiders knew the Kenyans weren’t serious about reforms, but still the loans continued, further entrenching the corrupt rule of the Kenyatta and Moi regimes. Despite the apparent efforts of James Wolfensohn and Paul Wolfowitz, two former World Bank presidents, and Robert Zoellick, the current Bank chief, business as usual continues.”
Bate’s whole piece is worth reading.