Just to play devil's advocate, I've been told that in a negotiation, it's always important to know what your best alternative is (e.g., https://ocw.mit.edu/courses/sloan-school-of-management/15-66... ; "I've been told" because I'm terrible at negotiating).
When a country starts to negotiate with the World Bank, generally speaking, their best alternative is to print money; cause hyperinflation; and then pay off their existing debts with the new, worthless, money. It seems to me that the World Bank's terms are better for the poor than that.
When a country starts to negotiate with the World Bank, generally speaking, their best alternative is to print money; cause hyperinflation; and then pay off their existing debts with the new, worthless, money. It seems to me that the World Bank's terms are better for the poor than that.