IMF, World Bank And Africa Essay - 2396 Words

IMF, World Bank And Africa An avid viewer of television has seen the commercials portraying shortages of food and mass starvation in Africa. Yet in these times of relative prosperity, little is heard of Africa’s debt problem. Although the total debt of all African countries combined is small in comparison to that of the United States, millions of people suffer as a result. However, it is not until these countries have difficulty repaying their loans that the international community begins to take notice. Many African countries are currently in such debt that all new loans are used to repay old loans in a attempt to salvage any credit rating a country might have (George, 13). Because many banks, particularly in the United states, have†¦show more content†¦These policies become increasingly strict as more Special Drawing Rights (as they are called) are requested. These conditions, when implemented, are called structural adjustment programs. Since these programs seriously infringe upon the sovereignty of the borrowing nation, the IMF is usually turned to as a last report. This occurs when international development banks and private banks, especially fear that a country might default on its loans. As a result, most sources of financing are lost until the debtor country agrees to a structural adjustment program implemented by the IMF. Acceptance of this conditionally suggests to private lenders a willingness to cooperate with the financial community. When this takes place â€Å"private bank loans and development assistance, of magnitude far larger that the fund’s largess, are likely to flow† (Will,54). Since the IMF is the last institution a LDC will turn to, the economy of the country involved is usually in extremely poor condition. When the structural adjustment programs of the IMF are more difficult to institute in the borrowing country and as a result causes much of the blame to be directed towards t he Fund. â€Å"Some 30 African countries have adopted formal structural adjustment programs supported by the IMF and World Bank† (Harsch, 47). Although many studies have been done on the effectiveness of the program, no one is quite sure of the effect the measures have had (NowZad, 196). There are several reasons forShow MoreRelated Failure of IMF and World Bank Policies in Sub-Saharan Africa4500 Words   |  18 PagesFailure of IMF and World Bank Policies in Sub-Saharan Africa Over the last several hundred years, Africa has been deprived of the peace that it so desperately needs. For over 400 years, Africa was subjected to the harsh trans-Atlantic slave trade. Europeans and Americans brutally uprooted millions of Africans and shipped them away. Torn away from their homes, Africans were inhumanely exploited for their labor. The slave trade had a devastating effect not only on those involvedRead MoreInternational Monetary Fund And The World Bank1679 Words   |  7 PagesTHE WORLD BANK AND IMF - HIPC International Monetary Fund and The World Bank, though has a good purpose of their existence, they have come under lots of criticisms as to how they use the leverage of being in a position of helping poor countries to either recover from economic collapse or give them debt relief and economic boost from loans they give out to them to impose policies and condition that those poor countries has to implement. These loan conditions and policies structured by these internationalRead MoreMr. Kim s Pledge895 Words   |  4 Pagesin Foreign Policy’s Failed States Index.† (Herbst, Jeffery and Mills, Greg, JULY 11, 2013) â€Å"Once viewed as the preserve of autocrats and corruption, some countries in Africa are now seen as the new, high-yield investment frontier.† (Herbst, Jeffery and Mills, Greg, JULY 11, 2013) â€Å"Low returns in the developed world have led to investors to look elsewhere for higher yields.† (Herbst, Jeffery and Mills, Greg, JULY 11, 2013) This is a war zone of Congo violence. They have to deal withRead MoreInternational Monetary Fund ( Imf ) And The World Bank948 Words   |  4 PagesInternational Monetary Fund (IMF) and the World Bank†. The HIPC Initiative was initiated by the International Monetary Fund and the World Bank in 1996. In 2001 Ghana declared itself as heavily indebted poor country, according to the then president John Agyekum Kuffour, the decision of Ghana to be part of this initiative was mainly because of the poor state of the economy. As a result of this the nation was expected to receive a total of 253 million dollars of IMF and the World Bank to help relieve the countryRead MoreInternational Monetary Fund And The World Bank1561 Words   |  7 PagesTHE WORLD BANK AND IMF - HIPC International Monetary Fund and The World Bank, though has a good purpose of their existence, they have come under lots of criticisms as to how they use the leverage of being in a position of helping poor countries to either recover from economic collapse or give them debt relief and economic boost from loans they give out to them to impose policies and condition that those poor countries has to implement. These loan conditions and policies structured by these internationalRead MoreMonetary Fund And The World Bank1554 Words   |  7 Pagesnternational Monetary Fund and The World Bank, though has a good purpose of their existence, they have come under lots of criticisms as to how they use the leverage of being in a position of helping poor countries to either recover from economic collapse or give them debt relief and economic boost from loans they give out to them to impose policies and condition that those poor countries has to implement. These loan conditions and policies structur ed by these international financial power institutionsRead Morelending institutions966 Words   |  4 Pagesfunding. Africa receives about 22 percent of assistance from the World Bank. The World Bank is the main source of lending to this underdeveloped country. By Africa having to largely depend on the World Bank and the IMF this has caused a hindering on their economic development. When the African government borrows from these institutions then the country is forced into abiding by very strict conditions, which usually benefit the richer countries in helping them to become richer. â€Å"The World Bank andRead MoreThe World Bank And Imf1096 Words   |  5 PagesAs a result of the inadequacies of the World Bank and IMF, Uganda today appears to be no better off today then as they were in the year(s) prior to acquiring the assistance in debt relief in 1998. According to Ana Eiras; â€Å"Despite such a monstrous display of resources, according to the index of economic freedom, the Bank’s money has done nothing to improve the economic freedom in recipient countries†. Erias goes on to make it clear that many of the country’s who have received assistance have seenRead MoreImf : Imf And World Bank1255 Words   |  6 PagesIMF OR WORLD BANK. THE PROJECT One of the World Bank or the IMF project that was developed is â€Å"Rebuilding Infrastructure.† It was set in motion to aid the rebuilding of Infrastructures in countries that were ravaged by, during and after World War II. The project (Rebuilding Infrastructure, under the supervision of IMF and World bank), was originally intended for, and as a principal supervisor on agendas such as poverty reduction, quality education, provision and availability of pure and clean waterRead MoreInternational Financial Institutions ( Ifis ) Are Central Pillars And The Architects Of The Global Economy1665 Words   |  7 Pagesinstitutions (IFIs) are central pillars and the architects of the global economy. The world bank and IMF were founded and funded by the United states after the second world war to build shattered world economy after the war and great depression of the 1930s (socialist alternative,). The creation of the IFIs was to bring about a global economy after the â€Å"isolation economy† which some argue brought about the Second World War. The IFIs were to help the economy of the less developing countries (LDCs) to

Criticle Article Review Violent Video Games Essay

Critical Article Review Psychology 475 Liberty University Abstract The aim of this paper is to provide a critical review of the article The Effect of Video Game Violence on Physiological Desensitization to Real-life Violence by Nicholas L. Carnagey, Craig A. Anderson, and Brad J. Bushman (2007). In this article Carnagey, Ander and Bushman experimentally examine the effects that violent video games have on those playing them, specifically in the area of physiological desensitization. It is the goal of this review to provide readers with an overall summary and critique of the article. This review will describe, discuss, and evaluate the key points of Carnagey, Anderson, and Bushman’s article and†¦show more content†¦The authors then share their analysis on the changes of heart rate and GSR at the many different points throughout their study. In the discussion portion of the article the authors discuss the lowered reaction to the violent images in the video following the 20 minutes of violent video game stimulation. They also discuss th e fact that results were quite dramatic across the different individuals and attitudes toward violence. They also give insight into their results and the implication of the GAM concerning the prevalence of lowered arousal levels to violence acts following the violent stimuli via video games. Using the GAM they discuss implications such as people’s lowered likeliness to respond a victim in a violent situation if they are not in an aroused state in the midst of the violent act. Lastly the article addresses the need for future research concerning the topic of desensitization to violence and the areas in which they feel it would be most beneficial. For instance a need to study the effects of more long term exposure to violent video games in regard to desensitization as most young game players do so on a regular basis. In their conclusion Carnagey, Ander and Bushman (2007) go as far as to refer to the media as an â€Å"effective desensitization tool.† Critique Carnagey, Ander and Bushman (2007) seem to be well versed on the previous research done on the negative effects of violent media on those exposed to it. They seem

The Rules Of Finance An Optimal Enterprise Solutions...

The Rules of Finance The goal of finance is to find the optimal enterprise solutions that balance expected return and expected risk. We can find and implement the optimal solutions by using financial information, tools, and models. In finance we want to reduce expected risk and increase expected return, but since getting rid of risk entirely is impossible we look for the best combination of the two. Even though a riskless venture is not possible, Harry Markowitz, a talented economist, brought forth (to our delight) the efficient frontier theory. The purpose of Markowitz theory is simply to find the obtainable enterprises that have the highest expected return for any given risk. This set of enterprises creates an optimal portfolio. What does return mean? It is the expected future cash flow from an investment. Why? Because the sole reason we invest is because we want that cash! If we really want cash, then why can’t we just focus on that? You might ask. 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Frankensteins Dont Mess with Mother Natu Essay Example For Students

Frankensteins: Dont Mess with Mother Natu Essay re Frankenstein essaysDont Mess with Mother Nature The story of Frankenstein by Mary Shelley is about a man who created something that messes with nature, and nature came back to mess with him because nature is more powerful than man. Victor Frankenstein was very interested in natural philosophy and chemistry and basically tried to play G-d by creating life. When he found the secret of activating dead flesh, he created a superhuman being composed of rotted corpses. What he did was considered unthinkable, and he was haunted by his own creation. When the monster escaped, Frankenstein knew that he had to deal with the consequences of what the monster might do. Frankenstein received a letter one day which informed him of his younger brother Williams murder, and immediately suspected that he was responsible, for he was the creator of the hideous monster. A friend of the family named Justine Moritz was the presumed murderer, and Frankenstein was determined to prove her innocent. Circumstantial evidence, however, led the courts to believe Justine guilty, because found in her pocket was a photograph which had belonged to William. Justine had been put to death, and Frankenstein had yet to find his creation. Finally, upon their meeting, the monster confessed to his creator of what he had been through, how he was rejected by society, and finally, how he had come to kill William. When William had revealed his name to the monster, the monster immediately figured that by killing the young boy, he would have revenge on Frankenstein for giving him life. The monster did not understand the concept of right and wrong and he especially didnt mean to kill anybody. His expression of anger ended up being violent, even fatal to the victim, and it just worked out that he killed people. As the monsters story continued, he demanded of Frankenstein a female mate who he can be with until his end, and promised to live away from society. Frankenstein, meanwhile, tried to restore the monsters demented mind so he could live a normal life. Although at first Frankenstein agreed to create a friend for the monster, he changed his mind for fear that between the two of them, his life, as well as many others, would be in danger. The creature wanted revenge, and so everything important in Frankensteins life ended up being destroyed, including his wife and best friend