...what the World Bank and IMF require, and how it hurts the poor
The World Bank and IMF adopted new rhetoric about reducing poverty, and linking debt relief primarily to poverty actions in the fall. But countries entering the debt relief process are still facing the same old conditions that have nothing to do with poverty reduction, and can actually increase the hardships of the poor.
Guinea - Conditions for debt relief include: privatization of energy, privatization of telecommunications, deregulation of petroleum prices, removal of subsidies for public transportation (December 1999).
Honduras - Conditions for debt relief include: privatization of telecommunications, liberalization of mining sector, implementation of bank service fees (November 1999).
Here is what these kinds of "structural adjustments" have done, and are still doing, to the poor: