Multiculturalism And The Bretton Woods Institutions

Abstract

Multiculturalism has many aspects and broad ramifications. The implications of multiculturalism for the World Bank and the International Monetary Fund (IMF), the so-called Bretton Woods institutions, are of particular interest. This chapter argues that, despite their deficiencies, the Bretton Woods institutions can play an essential role in promoting multiculturalism, human rights and the rule of law, but will be most effective only if they learn to practice and respect these same principles in their own decision-making and other internal practices. It first examines the concepts of diversity and of multiculturalism. Then, the chapter introduces the Bretton Woods Institutions and the related issues of multiculturalism. It also discusses the interplay of law, politics and multiculturalism at the World Bank and IMF. The IMF and World Bank have not always advanced multicultural identities, interests and values, but those institutions can still provide a way forward consistent with multiculturalism. Keywords: Bretton Woods institutions; cultural diversity; human rights; International Monetary Fund (IMF); multiculturalism; social diversity; World Bank