Exploring the IMF-World Bank: A Critical Dialogue on Sustainability
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A conversation unfolds between two distinct sustainability experts as a response to IBON’s initiative for contributions to the resource titled A People’s History of the IMF-World Bank. Samantha Suppiah, a design strategist focused on decolonial sustainability, and B. Lorraine Smith, a former sustainability consultant advocating for realistic insights over ESG frameworks, engage in a critical dialogue.
This exchange responds to IBON’s call to reflect on A People’s History of the IMF-World Bank: Marking 80 Years since the Bretton Woods Conference, lightly addressing intricate issues such as:
- The power dynamics perpetuated by the colonial narrative of “sustainable development” through the IMF-World Bank Group and its diverse stakeholders in both public and private sectors.
- Personal experiences interacting with the IMF-WBG framework, including the deliberate narrow-mindedness of executives and the co-optation of activists and NGOs.
- The global financial architecture, corporate strategies, and ESG as a form of greenwashing, which sustain the extractive capitalist mechanisms of violence, oppression, and harm.
- Development aggression, systemic racism, and the suppression of indigenous and broader Global South perspectives, which serve as significant obstacles to decolonial reparations, justice, and sovereignty.
Matereality's Three Fundamental Questions:
What is the organization’s stated purpose? What is its true purpose? What would it mean for the organization to genuinely support life?
Accessibility
The linked YouTube video includes English subtitles, which can be automatically translated into various languages via the “Subtitles/CC” settings in the video.
References
- Dolan-Evans, E. (2024). Born For War: The Lost History Of The World Bank And IMF In Conflict.
- Smith, B. L. (2024). Why following the money led me to exit the market.
- Suppiah, S. (2022). How corporate “sustainability” evolves into hyper-colonial “regeneration”.
- Suppiah, S. (2022). Plantation Sustainability Starter Pack.
- Sayson et al. (2024). Colonial Sustainability: Tracing the Sustainability Industry’s Ecocidal Lineage from the Doctrine of Discovery. Interdisciplinary Journal of Partnership Studies.
Full Transcript (English)
[Samantha Suppiah] Lorraine and I are here to discuss our insights into the IMF-World Bank ecosystem and its broader context.
[B. Lorraine Smith] Absolutely, Sam. As a sustainability consultant, my career has largely involved engaging with major corporations across various sectors.
[Samantha Suppiah] Thank you for that context, Lorraine. It's crucial to highlight the power structures that the IMF-World Bank is both part of and perpetuates.
Our conversation acknowledges that these structures are deeply entwined with colonial narratives, which continue to shape modern development paradigms. The idea of poverty alleviation often shifts responsibility onto those affected rather than addressing the systemic injustices at play.
This dynamic is evident in how the IMF-World Bank positions itself as a necessary entity for sustainable development, creating a narrative that often overlooks the historical and ongoing violence of colonialism.
The existence of these institutions reflects a deeper civilizational issue, rooted in patriarchal hierarchy and the propaganda that has allowed these narratives to persist unchallenged.
[B. Lorraine Smith] This co-optation mechanism is particularly concerning, as it often neutralizes genuine activism by integrating it into the frameworks of these powerful institutions.
In summary, our discussion serves as an exploration of the complex relationships and narratives that sustain the IMF-World Bank's influence in global finance and development.
Thank you for joining us in this critical examination of the IMF-World Bank ecosystem and the narratives that uphold it.