A mandate on behalf of the poor?

Abstract

An analysis of international agencies (IAs) is presented, with a view toward defining their role in the future New World Order. These IAs fall into two broad categories: private transnational corporations in which maximum profitability is the ultimate goal, and private foundations in which profitability is immaterial. The second group is better suited for development objectives due to the severe limitations imposed by the profit motive. An assessment of past performance by IAs in Third World development reveals many successes and, particularly on the part of the World Bank Group, an ability to learn from experience and to adjust policies accordingly. Major shortcomings include deficient program review; lack of coordination among agencies and of coherence within the system; and a failure to link foreign assistance with trade flows, private capital, and monetary questions. Major proposals include the establishment of new IAs for specific functions, automatic resource transfers, increased governmental management of IAs, and direct efforts toward the alleviation of poverty. Given time and determination, IAs should be valuable international machinery for the New World Order.