IMF-WB loans are not just about money - but is a program to help developing countries to develop sound economic policies. While some of their suggested policies are a bitter pill for most people - including prioritization of debt repayments - they have proved to be very valuable lessons in the end.

While you maybe harping about Venezuela - you should also note the high poverty & inflation rate that is currently plaguing them. Their economy is on a rising boom thanks to the inflated oil crude price but this will halt in light of the recent nationalization of some key industries.