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Essay / Research Paper Abstract
A 20 page paper discussing poverty alleviation in developing nations. Developed nations have been lending to poor ones for years, with the intention of assisting them achieve economic growth. The purpose of the desired growth is to lift the people of these nations from the abject poverty in which so many live. “From misery to poverty” is the aim that international financial institutions (IFIs) have had in taking on their “consulting” roles to the governments of poor nations. But as spending more than is available is not sustainable at the household level, neither is it sustainable at the macroeconomic level. Many of these nations carry such crushing debt that they seek to borrow additional funds merely to pay the interest on the loans they already have. The purpose here is to explore at least two alternatives to hopeless national debt. The paper discusses the HIPC Initiative for debt forgiveness and issues related to building an export-driven economy. Bibliography lists 23 sources.
Page Count:
20 pages (~225 words per page)
File: CC6_KSglo3rdDebt.rtf
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Unformatted sample text from the term paper:
disparity between the worlds richest and poorest countries only "wide" is to commit gross understatement. As example, at $498 annual per capita income, Sierra Leone is the worlds poorest
nation in terms of personal income (The Richest Nations and Territories of the World, 2002). Though the United States, the worlds richest nation, at $35,831 per capita GDP trails
the world leader Luxembourg by $63, total GDP of course is the worlds highest. The point is that the difference between the worlds richest and the worlds poorest nations
is nearly unimaginable. For a growing number of people, it is also unconscionable. Developed nations have been lending to poor ones for
years, with the intention of assisting them achieve economic growth. The purpose of the desired growth is to lift the people of these nations from the abject poverty in
which so many live. Despite whatever other problems he may have, former Haitian president Jean-Bertrand Aristide aptly described the plight of the Haitian people in stating that Haiti has
had to focus on elevating Haitis people, more than 80 percent of whom live in crushing poverty, "from misery to poverty" (Samway, 1997; p. 12).
"From misery to poverty" is the aim that international financial institutions (IFIs) have had in taking on their "consulting" roles to the governments of poor nations. But
as spending more than is available is not sustainable at the household level, neither is it sustainable at the macroeconomic level. Many of these nations carry such crushing debt
that they seek to borrow additional funds merely to pay the interest on the loans they already have. The purpose here is to explore at least two alternatives to
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