Bankbusters: the boycott of World Bank bonds is spreading, writes Mihail Dafydd Evans

There's a catch. The Bank's loans come with a set of rigid conditions commonly known as `structural adjustment'. In practice that means poor countries are obliged to make their economies more `market friendly' - a euphemism that translates into cuts in healthcare and education, selling off state-owned enterprises, lowering barriers to foreign investors and prioritizing debt repayment over human needs. The Bank may not have changed yet. But there are signs it is paying attention. Part of the concern is that the boycott will threaten bond ratings, a crucial factor for investors. A loss of its `triple A' status could dry up the World Bank's revenue flow. Bank staffers have been parachuted in to lobby council members in advance of recent US municipal votes on boycott motions. Last year in Los Angeles the Bank's PR machine went into high gear before the boycott even started.