IMF & World Bank Protests, Washington D.C.
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To complement the public protests in Seattle, the week leading up to April 16th/17th 2000 saw the other two global institutions of the so-called "unholy trinity", the International Monetary Fund (IMF) and World Bank, as the focus of renewed protests and criticisms, in Washington, D.C.
As with the WTO protests in Seattle, the purpose of the mass demonstrations was to protest against the current form of globalization, which is seen as unaccountable, corporate-led, and non-democratic. It has also been to further the calls for more justice and democracy in the globalization process.
It further shows the links between tremendous odious debt and poverty in the developing countries with the effects of the current forms of globalization that marginalizes a vast majority of people around the world.
While not the only part of the global financial system that has been destructive for most people of the world, the IMF and World Bank policies have been a major instrument to structure the global economy (via structuring the national economies of developing countries) to allow a form of neoliberal globalization to be pursued that has led to the criticisms mentioned above.
Critics also point out that the beneficiaries will be largely the wealthy people in western nations and the transnational corporations, while the majority of people in the world will not benefit.
For more about the flawed Structural Adjustment policies of the IMF and World Bank on developing countries, and the race to the bottom effect it has predictably had, go to this web site’s Structural Adjustment1 part of the Poverty Section.
While not as large a turn out as Seattle, estimates vary from ten thousand to twenty thousand or more that turned up during the week long protests.
On this page:
Mainstream Media Representation
As with the poor Seattle coverage2, the media have concentrated more on the sensationalism.
- Again the mainstream ignored the in-depth issues around the IMF and World Bank and why they are being criticized by so many around the world.
- As with Seattle, the mainstream media also ignores the protesting of lack of democracy3 and global justice in the current process to achieve globalization and in the major institutions to realize it.
- According to the IMF’s own official statement, they themselves did
not provide press accreditation to public access TV, community radio, nor student or academic publications to attend our meetings.See this alert4 from Fairness and Accuracy in Reporting for more information. In fact, the Washington, D.C. corporate media, for example, sensationalized the traffic disruptions and policing efforts as the headlines and then occasionally mention the meeting, the protests and the reasons.
- A small number of people unfortunately did clash with police, but compared to the thousands of peaceful protestors the media’s coverage has so far been disproportionate.
- In fact there was little discussion on the police tactics, who
- "used illegitimate preemptive arrests
- set out a huge restricted area around the World Bank and IMF keeping activists from even the vicinity of their focus of dissent
- invaded and closed the Convergence Center as intimidation
- used a mixture of arrests, aggression, and sometimes even forbearance in an effective brew to try to channel outcomes
- and worked hard to goad protesters into acting out, though unsuccessfully"
- (It is interesting to note how some US Republicans were shocked at the aggressive police raid in Miami to take Elian Gonzalez to return him to his father. They commented that such tactics are typical of somewhere like Cuba, not the United States. However, there wasn’t even a slight comment to that effect when there was an equally, if not more brutal, crackdown on more people at Seattle and Washington D.C. protests.)
- With little debate between IMF/World Bank officials/spokespersons and major protestor representatives in the news and very short sound-bites from each side, the issues were not covered and presented very well.
- However, to be fair to the mainstream media, compared to Seattle, they did at least look into some of the concerns that the protestors were raising a bit more, which is a good indication of the positive effects of the protests.
- Often, the majority of the
expertsinterviewed were economists who support the current policies. There had been a few interviews with economists critical of current policies, but hardly any with human rights activists, subject experts from developing countries, or others who could also provide valid insights and perspectives into the issues at hand and the effects on societies of so many countries that are affected by the decisions and policies made at the IMF and World Bank (and supportive industrialized countries and multinational corporations).
Media reduces a complex matter to just two
A complex subject matter is reduced to
either you are protectionist, or you are pro free trade. Instead, most protesters are pro international trade but with more emphasis on a fairer, accountable and democratic process to get there. It doesn’t mean that the current way is the only way. The globalization debate has many perspectives, not just two. For example, the following are some broad categories of perspectives, but by no means exhaustive:
- People who are pro free trade in its current form because it allows them and the corporations to continue and benefit from exploitative practices.
- People who are pro free trade because they genuinely believe that it will be a positive force in the long run.
- People who are pro free trade, but not in its current, largely corporate-led form.
- People who are pro international trade and globalization, but not
freewhere free is defined by economic neoliberal definitions, which is different to political liberalism7. An approach with more regulatory measures in the international arena to help protect local industries and people from the possible effects of runnaway, free captial (as seen in the global financial crisis toward the end of the 1990s) would be preferred.
- People who are against free trade because of nationalistic, isolationist or overly protectionist ideals
- and so on.
There are many other perspectives. Some have a mix of the above and so on. The point is that the media often looks to accidentally, or purposely, simplify the picture in order to get their sound bites in and hence the level and range of discourse on the topic is sorely affected. For example, in Seattle, as well as Washington D.C, many protestors were often portrayed as the same people as right wing protectionists, like Pat Buchannan, who also oppose the WTO, IMF, World Bank etc, but for very nationalistic, purposes. As noted in the mainstream media section8, most corporate media are pro free trade, hence, this also affects the presented perspectives.
There was some media coverage that tried to look at the issues and criticisms of the IMF and World Bank, and while for a moment it was hopeful that more people in the United States, as well as around the world, would be more aware of the issues the coverage proved not to be too indepth and without sustained analysis. Once the meeting was over, so was the concern it seemed.
The US is influential at the IMF and World Bank. As mentioned in the structural adjustment part of this web site, the IMF and World Bank are largely controlled and
owned by the developed nations such as USA, Germany, UK, Japan etc. The US, for example, controls 17 to 18% of the voting power at the IMF and when an 85% majority is required for a decision, the US effectively have veto power. The World Bank is also 51% funded by the U.S. Treasury. (See this site’s section on Structural Adjustment10 for more details and sources on this.)
A continued rising awareness within the US would hopefully help stimulate increased debate with a wider range of discourse. American citizens are honest and caring people. However, if the mainstream media, from where a large functioning aspect of democracy proves to not provide all relevant information, the opinions and decisions of the American people are also affected. Hence their ability to hold their leaders properly accountable is also affected.
For more on media portrayal and coverage, you could start with the following:
- The Independent Media Center11 is a collective of media producers offering non-corporate grassroots coverage. You could start there to find out about the actual coverage.
- The MediaChannel12 has a good section of articles.
- TV Can’t Tell You How It Is13 by Robin Andersen, presented on the MediaChannel, is a very good summary of the media coverage of the protests.
- Fairness and Accuracy in Reporting14 has a section on the IMF & World Bank
- Media Distortion of World Bank/IMF Protests Starts Early15 is an example of some of the articles from the above-mentioned FAIR site.
- Protests in Washington Clash with Media Spin16 by media critic Norman Solomon
- When Corporate Media Cover
Independent Media17 also by Norman Solomon, who starts off
During the recent protests in Washington against the World Bank and IMF, the leading cable news network became fascinated with independent media. Journalism free of huge economic interests — what a concept!
- IMF, World Bank Bar Independent Journalists From Events18
- Democracy Now19 has provided on-going grassroots coverage as well.
- Taking A16 Seriously22 by Jason Vest, points out that
A16 proved that the mainstream media is not averse to reporting a good story, even when the story involves protests against corporate global power. But what it did prove is that the mainstream buck stops well before deep, historical analysis.
The following sources provide good information about the meeting. It is also a useful set of resources to see the criticisms of current globalization models and current forms of free trade practices.
- Mobilization for Global Justice23". This is the main web site about the process. It it brought together by three main organizations who also have a lot of information:
- The 50 Years Is Enough24 campaign is a coalition of 205 organizations dedicated to the profound transformation of the World Bank and the International Monetary Fund (IMF).
- Global Exchange25, a human rights organization dedicated to promoting environmental, political and social justice around the world.
- Direct Action Network26, a decentralized, directly democratic organization working to create a movement to overcome corporate globalization and all forms of oppression.
- CorpWatch27 have a section on globalization and the role of the two Bretton Woods institutions.
- Global Economic Crisis28 from Z magazine provides a lot of in-depth and background articles on the problems of the current forms of globalization.
- This Web Site’s section on Poverty29
- The Third World Network takes a look at liberalization30
- Some articles from Foreign Policy in Focus:
- UNCTAD: Time to Lead, Time to Challenge the WTO34 This article suggests that the United Nations Conference on Trade And Development could be a more appropriate and inclusive body for issues of international trade and development. As the article says,
UNCTAD may not have the material resources of these institutions, but it has something that the billions of dollars of the World Bank and IMF could not buy: legitimacy among developing countries.
- Fighting Corporate Sponsored Globalization35, by Robin Hanhel
- The DC Cop Crackdown36 looks at some of the police tactics leading up to the protests, especially given the events in Seattle, earlier.
- The IMF & World Bank Campaign37 section from OneWorld provides more articles from other organizations as well.
- The Bretton Woods Project38, in their own words,
works to monitor and reform the World Bank and IMF. It tracks key policy statements and reports, and provides critiques and early warnings used by non-governmental organisations across the world.They also show that it isn’t just Washington D.C. seeing protests of this nature. In other countries around the world, people are protesting. Sometime the number of people who turn out are even larger. For an example, you can see towards the end of section 2 of this update39.
- What I learned at the world economic crisis. The Insider40 by Joseph Stiglitz, former Chief Economist at the World Bank, until the beginning of 2000, when he resigned, harshly criticizing the IMF.
- Time to Rein in Global Finance41 by William Greider, suggests that while the IMF and World Bank are problematic, a reform, rather than complete closure could be the way foreward (afterall, they were created with a more positive goal in mind initially, before their roles changed to promote Friedman’s neoliberalism in the 1970s) and that they are only a part of the global financial system that needs to be addressed.
- Growth May Be Good for the Poor — But are IMF and World Bank Policies Good for Growth?42 is a detailed critique of the World Bank’s report43 showing that globalization is good for the poor. It claims to show that
growth generally does benefit the poor and that anyone who cares about the poor should favor the growth-enhancing polices of good rule of law, fiscal discipline, and openness to international trade.However, there have been many criticisms about the report for making far too many assumptions and not considering many interrelated issues.
0 articles on “IMF & World Bank Protests, Washington D.C.” and 2 related issues:
Poverty is the state for the majority of the world’s people and nations. Why is this? Is it enough to blame poor people for their own predicament? Have they been lazy, made poor decisions, and been solely responsible for their plight? What about their governments? Have they pursued policies that actually harm successful development? Such causes of poverty and inequality are no doubt real. But deeper and more global causes of poverty are often less discussed.
Read “Causes of Poverty” to learn more.
Read “Trade, Economy, & Related Issues” to learn more.
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