Anwar's World Bank

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Anwar's World Bank

Anwar's World Bank

Monday, December 19, 2011
  • Anwar Wolfenson
Anwar and former World Bank president James Wolfensohn when the Opposition leader was in the Government.

A pro-opposition portal claimed that in a speech on the Economic Transformation Program of Prime Minister Dato Seri Najib, Anwar claimed Tun Dr Mahathir had written to the World Bank to seek assistance during the finanial crisis of 1999.

 

Instead, Anwar claimed he had rejected an offer for loan to Malaysia from the World Bank in 1993 when he was Chairman of the Committee on IMF and World Bank Development.

 

Dr Mahathir responded non-chalantly by challenging him to swear in a Masjid. Knowing Anwar dare not swear in a Masjid to proof his innocence in the China doll sex video scandal, it was a casual response to ridicule Anwar.

 

But Dr Mahathir did explain about the IMF rescue package that Anwar insist Malaysia take but would have stifle the economy of the nation and the Bumiputera.

 

Surprised by Dr Mahathir's witty response, Anwar had his PKR machinery dig up past World Bank records.

 

Malaysiakini lent support to report. Extract below:

"World Bank records show that the Mahathir administration had taken 38 loans from the global financial body between May 18, 1982 to the post-financial crisis period of March 30, 1999.

This includes a USD300 million loan package known as the ‘Economic Recovery and Social Sector Loan Project’ that was signed on June 18, 1998. The last three deals between the Mahathir administration and the World Bank was inked in March 30, 1999 for a total of RM404 million worth of loans.

This includes an Education Sector Support Project (USD244 million), Year 2000 Technical Assistance Project (USD100 million) and Social Sector Support Project (USD60 million).

These three deals were inked six months after the sacking of Anwar Ibrahim as Deputy Prime Minister and Finance Minister." - Malaysiakini

 

What's so wrong in borrowing for specific social projects like education, technical assistance, social sector, etc?

 

This is no where to the size of the IMF US$100 billion loan to Indonesia during the financial crisis of 1999 that came with debt-relief plan that disastrously restructured the social, economic and political landscape of Indonesia. 

 

The pride of a nation is lost as President Suharto was shamed to sign the IMF deal with Michel Camdesus looking down on him. 

 

Camdesus effort failed miserably and the 5 major nations acknowledged that the IMF planwas flawed. Read NYT here.

 

PKR cybertroopers, including the Blue Apple regular client Prof Dato Din Merican's attack on Dr Mahathir shows their lack of understanding of World Bank's attempt to twist Dr Mahathir's stance on the IMF. 

 

Which World Bank are they talking about? 


There is the World Bank that gave paltry few hundred million loans for specific projects.

  

And there is the World Bank that gave hundreds of billion to neo-colonise a free nation. Do differentiate which are they referring too?

 

More about Anwar Ibrahim's World Bank in The Unspinners