News

NEW DELHI, May 22, 1998 (LSN) – The response of the IMF and World Bank to the recent   Asian crisis is seen by many to have worsened the situation for these nations and placed them under greater control of giant international financial interests. It would be reasonable to assume that the strong population control agenda of the IMF and World bank is playing some   role in the severity of demands on these vulnerable nations.  The recent special synod of Catholic bishops for Asia concluded by stating that ” While there are beneficial effects of globalization, we are concerned about its harmful effects.”  The bishops state that “Globalization that is based on decisions of a few mega-institutions,  selfishly promoting the welfare of the powerful and affluent few, and purposely disregarding the needs, rights and dignity of the great voiceless multitude, is the kind of globalization the great   majority of humanity should be without.”  World Bank and IMF policies have been causing massive migrations as people try to find work in   other nations. Mulima Kufeskisa of Zambia told the bishops conference that in many African countries,  foreign debt is twice as much as the gross domestic product. In Mozambique and Zambia life   expectancy has dropped from 54 in 1991 to 42 today, and infant mortality has risen from 77 to 111.