Banking on Life and Debt

Loans from International Monetary Fund have harsh conditions which destroyed social services This film was commissioned by Maryknoll Mission, a U.S. Catholic order. Although now 20 years old, it shows how the World Bank and the International Monetary Fund function…

Banking on Life and Debt

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Loans from International Monetary Fund have harsh conditions which destroyed social services

This film was commissioned by Maryknoll Mission, a U.S. Catholic order.
Although now 20 years old, it shows how the World Bank and the International Monetary Fund function in their loans to poor countries.Often the conditions of loans were that social services should be cut and various industries privatised.

Critics say that much of the earth’s population live in countries trapped in multibillion dollar loan repayment schemes with terms diced by these two organisations.
Viewers travel to three continents. In Ghana, touted as a World Bank success, poor villagers cannot afford medicines because health subsidies were removed. Foreign debt doubled in ten years. In Brazil, people eat from garbage dumps while crops are sold to pay off the world’s largest foreign debt. Small farms were bankrupted and people moved into city slums. A woman in the Philippines heads a grassroots coalition in the fight against paying the debt.

This documentary shows how many children are sacrificed for the sake of financial stability. The film traces the post-World War II change which led to the current world ( in 2000 ) economic order. The question is raised: Is it time for another change?

WARNING. 4 times between 27 minutes and 30 minutes there are 5 second freezes. These are on the original and we apologise that we cannot eliminate them.

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