Generally, critics (leftists and Rightists) argued that rather than reducing poverty levels, the actions of the World Bank and IMF have served to exacerbate the problem. Advance three (3) arguments of the leftist and two (2) of the right against the exi

**Leftist Arguments Against the World Bank and IMF:**

**Structural Adjustment Programs (SAPs) and Austerity Measures:** Leftists argue that the conditions attached to loans provided by the World Bank and the IMF, often in the form of Structural Adjustment Programs, lead to austerity measures that cut social spending on essential services such as health and education. This disproportionately affects the poor, leading to increased poverty and social inequality, as governments curtail social welfare in favor of fiscal stability.

**Neoliberal Economic Policies:** Leftist critics contend that the economic policies promoted by these institutions tend to prioritize deregulation, privatization, and liberalization. Such measures often benefit multinational corporations and wealthy elites at the expense of local communities. The emphasis on free markets can exacerbate income inequality and undermine local economies, pushing more people into poverty.

**Lack of Local Accountability and Representation:** The decision-making processes of the World Bank and IMF are often seen as opaque and lacking in accountability. Leftists argue that these institutions do not sufficiently involve the countries they aid in policymaking, leading to policies that do not reflect the needs and realities of local populations. This disconnect can perpetuate cycles of poverty and hinder sustainable development.

**Rightist Arguments Against the World Bank and IMF:**

**Inefficiency and Bureaucracy:** Rightist critics often argue that the World Bank and IMF are characterized by bureaucratic inefficiencies that can waste resources. They claim that these institutions often fund projects that are poorly managed or that do not deliver tangible benefits to the populace, leading to a net negative impact on economic development and poverty reduction.

**Moral Hazard and Dependency:** Rightists assert that the existence of the World Bank and IMF creates a moral hazard, where countries may engage in irresponsible fiscal behaviors because they anticipate a bailout. This can perpetuate a cycle of dependency on external financial support rather than fostering self-sufficient and responsible economic policies within the countries receiving aid.