I have friends who are and were in the WB, a lot of very smart Keynesian economists. No, the typical package for third world countries, including South Korean back then, is to open their banking/financial system to foreign (white) and private sectors, in which we have excess of printed money to wash ashore, buy things cheap when these countries need the most. Just take a look of recent Sri Lanka IMF bailout, it is just different type of colonialism. Whoever local politicians in control will benefit from money flowing in.
Marxist Dissanayake wins Sri Lanka’s presidential election as voters reject old guard https://apnews.com/article/sri-lank...nghe-results-50a8990acae90fabaddd8d01c0ef5bcd voters decided communism is better than, after the west failed to bail them out.