ipl-logo

Ridley's Statement

1779 Words8 Pages

Africa is a very large continent with over 50 countries and the second most populous continent, but it also is the poorest continent in the world and so Matt Ridley claimed “Africa needs to be rich rather than green”. There is many reasons why he said that, either from all the natural resources that Africa could trade with or the corrupt government that could be replaced and solve all their problems. This essay will show whether Matt Ridleys Statement would also apply to developing economies and I will describe the role of The World Bank and The International Monetary Fund on developing countries.

Countries around the globe have been trading their natural resources in exchange for other resources or money. Africa has been known for their …show more content…

“The IMF’s and The World Bank structural adjustment policies (SAP) ensures the repayment of the loan by asking them to reduce spending on education and health”(www.globalexchange.org). The international Monetary Fund and The World Bank were first created to help developing countries get an economic advantage, but has now become a “pot of gold” for rich countries to reach in and grab all the money they need. Rich countries such as United States and United Kingdom are controlling the IMF and The World Bank because of their high GDP, these countries have an immeasurable “debt” that cannot be repaid, and they are still getting credits from the World Bank. “The IMF and The World Bank often advise countries to attract foreign investors by weakening their labor laws and by doing so they have to reduce wages and take some workers out of their …show more content…

It has been argued by many that the world doesn’t need the IMF or The World Bank, but others claim the opposite because some people might not see the “bigger picture” of what the IMF is really trying to do. IMF can be beneficial in some different ways for example “The IMF assists member nations in numerous different capacities, If a country has a balance of payments deficit, the IMF can step in to fill the gap and IMF’s most significant role is its capability to provide credits to member nations in need of a bailout, IMF can attach conditions to these loans, including prescribed economic policies with which borrowing countries must

Show More
Related

Exploitation Of Resources In Africa Dbq Essay

786 Words | 4 Pages

Throughout the ages, many nations have been known to do whatever it takes to sustain a valuable supply of resources. For this reason, however the exploitation of resources by countries using unfair means is an enduring issue for many groups of people. Exploitation of resources is when the government or outside forces take advantage of a nation’s resources. This issue is significant because it causes civil conflict and war, can impact people of nations terribly, and can destroy industry. Problems created by exploitation of resources can be seen in examples from Sierra Leone, the Congo and British India.

Read More

The Effect Of Global Economic Meltdown On The United States

695 Words | 3 Pages

This is a large-scale problem because the United States is unable to pay the money borrowed from the foreign countries back, due to the large about of debt that they are now in. The United States will be like this for a long period because the debt keeps growing and will continue to grow and change daily due to the side effects from this crisis.

Read More

Should Internationalism Be Pursued Essay

491 Words | 2 Pages

With more countries pursuing internationalism ideals, the security of nations is increased. For example, organizations such as NATO or NORAD have done excellent jobs when dealing with the security of North America. Think of walking in the middle of a large city a t night, is it better to be alone or in a group. This is exactly the same for countries in conflicts. Internationalism is of great importance in the safety and security of countries.

Read More

Sherman And Pershing Tank Essay

773 Words | 4 Pages

The Sherman and Pershing Tanks Tanks have been around since the beginning of World War I, and throughout time, there have been many changes and improvements to them. The first tank was a British Mark 1 Tank. This tank needed eight people to run it, and weighed 28 tons. The newest tank is the Russian T-14 Armata. To run this tank you only need 3 people, and it weighs 48 tons.

Read More

A Brief Note On My Great Grandfather Emilio Collado Jr

745 Words | 3 Pages

This helped america greatly which made sense because world war II was such a problem most people prefer to not talk about it. “The World Bank couldn't be big enough in its terms”. is what my great grandfather said in an interview in 1934.In 1944 at Bretton Woods, N.H. There, the United States and Britain effectively designed the postwar international monetary system. In doing so creating the International Monetary system.

Read More

Cuban Imperialism: The Late 1970

255 Words | 2 Pages

In late 1970, many oil distributing countries had large amounts of earned money which they put into Western banks. The Western banks later loaned this money to Third World countries for large expansion projects. Several factors emerged from this action. For example, world interest rates increased, global recession, and low commodity prices. Later which initiated the size of these debts to start growing fast and several countries began to fall behind in their payments.

Read More

Aetna, Inc.: Total Quality Management

1323 Words | 6 Pages

The World Bank displays the organizational culture in a different and unique way. With the confusing goal of development, the organization has developed itself in the philanthropic underpinning. In the past century, The World Bank has implemented a great example of huge success. Markets like India, Korea, and China have become independent global economies just with the help of the

Read More

African Americans And Poverty Essay

560 Words | 3 Pages

Africans are an array of people with extreme diversity in ethnicities and statures. Although, Africans are diverse they are largely a people struggling from low economic status, lack of educational opportunities, and limited employment opportunities. This state of underdevelopment is prevalent throughout Africa, aside from a few pockets of wealth and development. This issue is largely recognized by governments and charitable organizations and action being taken to combat this, yet these institutions are investing resources and efforts foolhardily, however noble the cause may seem, to attempt to alleviate poverty and starvation.

Read More

Explain Whether Or Not You Feel That The Negative Impacts Could Have Been Avoided

1163 Words | 5 Pages

Research and find one project of the World Bank or the IMF that created problems for the nation that received its assistance. Describe the project and what the negative outcomes were. Explain whether or not you feel that the negative impacts could have been avoided? Why or why not? Further explain your opinions on whether you believe that international financial institutions such as these could consistently provide assistance in an objective, unbiased and responsible manner.

Read More

Poverty Rhetorical Analysis

1426 Words | 6 Pages

The association of poverty with Africa goes together like apple pie and America. From the advertisements of malnourished, African children to our education, or rather lack of education, about African countries in the American school system, the concept of Africa as an impoverished continent has been engrained into our minds. This rhetoric of Africa has lasted over decades, with a substantial amount of aid being given to African countries to rectify this problem. And yet, sixteen of the world’s poorest countries were identified as being in sub-Saharan Africa as of 2013. This insinuates that foreign countries and organizations that provide aid, need to reevaluate why aid isn’t making a bigger impact at fixing the problem.

Read More

Africa Great Beyond Aid Sparknotes

957 Words | 4 Pages

Africa had been and is still a centre of attraction for the Globe. The importance of Africa is beyond human comprehension coupled with her abundance natural resources of which, every Kings and Queens of the world would have love to have them at their disposal. Africa is the second largest continent of the world, second to Asia, bounded by the Mediterrean Sea, the Indian Ocean, the Red Sea & Atlantic Ocean. Africa’s total land area is estimate to be 11,724.000 Square miles (30,365,000 square km), and measures about 5,000 miles (8,000km) from south to North & about 4,600 miles (7,400km) from West to East. But despite Africa’s huge size and lots of her potentials, it’s still regarded as the poorest of all the continents of the world.

Read More

Poverty In America

1065 Words | 5 Pages

So, USA, and other countries have a responsibility to help poorer countries develop a more stabilized economy.

Read More

Should The United Nations Have Been Effective

162 Words | 1 Pages

The United Nations is a foundation that was founded in 1945, its only purpose is to create and maintain peace between countries that are in conflict. Since the year that the United Nations was created when there was just 50 countries as members, there are 193 members, all these countries have different economies and even their political system is very different. Many people argue that the United Nations have not been effective in its role. But, in my personal opinion I believe that the United Nations had been effective according to its role. There are three reasons why, those are; the United Nations had created international peace between different countries, the U.N had also, be very helpful for the good of the least developed countries, the

Read More

The Positive Impact Of Globalization On The United States

944 Words | 4 Pages

(Anderson,271). Because of Africa’s growing national economy, companies such as the liquor company Diageo have been moving resources there to tap into the growing market. Diageo has invested over $1 billion into the African market in the last five years. (Wall Street Journal, 2). This increase in activity has created jobs for the people of Africa as well as stimulated the national

Read More

Foreign Aid Argumentative Essay

1035 Words | 5 Pages

The foreign aid program is created to bring an end to poverty, conflicts and other difficulties that poor-developed countries are enabled to solve it. Everything is not about money, but it is about power, political view or group society. In many well-developed countries, corruption and political control are being reviewed by the UN and other governance, because they could be penalized or have sanctions. In a less-developed country that are already being helped with foreign aid, the governance and other aid programs must have their hands tied when it comes to penalized or sanctioned, because they are already in need, therefore corruption is created in those less-developed countries and hunger follows. There is the end of hungriness that is currently trying to be solved in the world, but there are still conflicts with political control that keeps the foreign aid to cause hunger in

Read More

More about Ridley's Statement

Related Topics

Open Document