These three organizations are focused on providing billion of dollars of loans to the different developing and underdeveloped nations. Therefore, in order to provide with the international commercial lending along with the loans, these organizations impose stringent policies and conditions on the nations (Bourne et al.). As identified from the movie of Life and Debt, the structural adjustments are often made that place a wide range of limitations and regulations. It was found that as the Jamaica experienced both internal and external pressures, the foreign bank loans would not have been possible without the inclusion of the international regulatory organizations (Black).
The funds which were attained by the Jamaica from the arrangement with the IMF and other organizations needed measures of austerity that outperformed the benefits. It can be considered that the combination of World Bank, WTO and IMF has functioned in an attempt to capture the global market in favor of the western nations. It was found that the foreign exchange of 640 million US dollars were required by Jamaica in order to serve the concerning debt (Bourne et al.). However, the policies of structural adjustment mandated by the IMF had resulted in the devaluation of the Jamaican dollar. Therefore, the total of 18 billion Jamaican dollars was required for servicing the loan where as merely 8 billion were initially required.
This resulted in deterioration of national economic well-being and impacted the spending of government across all sectors including social welfare, education and health (Black). The movie showcased that the basic schools of Jamaica are established under a small ATM sized rooms as a consequence of the curtailment in government spending.
It has been identified from the research that these actions were taken by not only IMF and World Bank but also the WTO, Inter-American Development Bank along with many other institutions. The purpose behind offering the assistance to Jamaica was performed in an attempt to identify the sources of global production and promoting the interest of the nations that support the foundations of these three institutions (Bourne et al.). Jamaica experienced the problems with the valuation of the Jamaican dollar as it was worth more than the USD when the initial interaction among the IMF and Jamaica took place. However, the value of the Jamaican dollar had diluted to less than 2 cents US dollar due to which the relationship was terminated by Jamaica (Black). This took place as US holds the majority voting rights in order to exert influence across IMF, World Bank and other financial institutions (Bourne et al.).