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The Strengths and Weaknesses of the World Bank

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The discussion on the role of the World Bank towards the underdeveloped nations and more precisely pinpointing attention towards the Latin American region. The main focus would be on the discussion of Peru in relation to World Bank’ s different policies and measures. Peru’ s population has had a tough time of late and efforts have been made by the World Bank and the Inter-American Development Bank (IDB) to improve its condition when one speaks of its water and sanitation services. Estimates suggest that nearly 40 percent of the population of Peru lives below the poverty level which is nothing but a shame.

Water is one major worry for the people of Peru. There is an abysmal situation within the related ranks of the Peruvian population. They do not have access to clean drinking water and a number of water-borne diseases are on the rise with the passage of time. Water sector reforms were introduced by the World Bank and the IDB in the early 1990s which basically aimed to put a stop to the cholera epidemic which was rampant within Peru and had claimed around 3000 lives.

The same also spread in a terrible and swift manner across the different Latin American nations. Thus it would not be wrong to state that the water services in Peru were a complete shambles and much needed to be done in this sector courtesy the World Bank. In March 1999, the World Bank stopped payment for the US $22.5 million which was in the name of aid to Peru’ s program concerning the judicial reforms. These reforms were in protest over the law which limited the powers that hold by courtesy the National Magistrates’ Council.

In September 1999, the Congress of the United States passed a fresh legislation which wanted to store a meager sum of the CNM’ s powers. The same however failed to materialize in the wake of the requirements that the World Bank had asked for and thus the loan was refused by the government. This was done so that there would not be any tussle between the World Bank and the Congress.

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