World Bank protests.Activists marched on the annual spring meetings of the World Bank The World Bank An international organization dedicated to providing financing, advice and research to developing nations to aid their economic advancement.World Bank A multilateral development finance agency created by the 1944 Bretton Woods, (New Hampshire) negotiations. It makes loans to developing countries for social overhead capital projects that are guaranteed by the recipient country. See: International Bank for Reconstruction and Development.Notes: The World Bank was created at the end of World War II as a result of many European and Asian countries needing financing to fund reconstruction efforts. Created out of the Bretton Woods agreement of 1944, the Bank was successful in providing financing for these devastated countries. and the International Monetary Fund International Monetary Fund (IMF) An organization founded in 1944 to oversee exchange arrangements of member countries and to lend foreign currency reserves to members with short-term balance of payment problems. held in Washington, D.C., on April 16. Three days later, people in Manila Manila (mənĭl`ə), city (1990 pop. 1,601,234), capital of the Philippines, SW Luzon, on Manila Bay. Manila is the center of the country's largest metropolitan area, its chief port, and the focus of all governmental, commercial, industrial, and cultural activities. voiced opposition to the appointment of Paul Wolfowitz as president of the World Bank. |
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