[Marxism] Fwd: FINANCE: Learn from Cuba, Says World Bank | Inter Press Service

Louis Proyect lnp3 at panix.com
Mon Nov 28 06:22:17 MST 2016

World Bank President James Wolfensohn Monday extolled the Communist 
government of President Fidel Castro for doing “a great job” in 
providing for the social welfare of the Cuban people.

His remarks followed Sunday’s publication of the Bank’s 2001 edition of 
‘World Development Indicators’ (WDI) which showed Cuba as topping 
virtually all other poor countries in health and education statistics.

It also showed that Havana has actually improved its performance in both 
areas despite the continuation of the US trade embargo against it and 
the end of Soviet aid and subsidies for the Caribbean island more than 
ten years ago.

“Cuba has done a great job on education and health,” Wolfensohn told 
reporters at the conclusion of the annual spring meetings of the Bank 
and the International Monetary Fund (IMF). “They have done a good job, 
and it does not embarrass me to admit it.”

His remarks reflect a growing appreciation in the Bank for Cuba’s social 
record, despite recognition that Havana’s economic policies are 
virtually the antithesis of the “Washington Consensus”, the neo-liberal 
orthodoxy that has dominated the Bank’s policy advice and its 
controversial structural adjustment programmes (SAPs) for most of the 
last 20 years.

Some senior Bank officers, however, go so far as to suggest that other 
developing countries should take a very close look at Cuba’s performance.


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