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IMF And The World Bank - Online Essay

IMF And The World Bank


Somalia had an economy based on trade between small breeders and small agriculture. Despite drought, the country remained self-sufficient on alimentary product during the 60's and 70's. During the 1970's decade population transfer programs permited the development of an important commercial sector: Breeding. until 1983, breeding represented 80% of Somalia importation takings. At the beginning of the 80's the IMF and the World Bank imposed a program of reforms. This program led to the colapse of the fragil balance between Nomad and sedentary sector. One of the goal of this plan was to collect money to refund the IMF and other creditors from several debts. In 1989, the IMF loan was ...

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with 23$ per person on debt repayment. Because of budget cuts, Sub-Saharan Africa is very vulnerable to basic disease such as Cholera, that are making a come back at a catastrophic pace, owing to the breakdown of water and sewage systems triggered by the economic crisis (Dark Victory,p55). The IMF encourages governments to cut backspending and to downsize government department, thus a rise in employment. the damage in Education Sub-Saharan Africa is significant. for example the percentage of 6-11 years old enrolled in school has fallen from approximatively 60% in 1980 to less than 50% in 1990 (WWW.Jubilee2000uk.org/silent.html). The cut in subsidies for farmers is important. Farmers have less mone while they have to compete with the cashcrops. Pesticide and herbicide are expensive and debt among the farmers are frequent. Only few rich farmers are able to survive and often work for multinationals. Because poor countries are encouraged to grow monocrops, they cause a ...

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IMF And The World Bank. (2006, August 3). Retrieved December 23, 2024, from http://www.essayworld.com/essays/IMF-And-The-World-Bank/50136
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PAPER DETAILS
Added: 8/3/2006 05:14:04 AM
Category: Miscellaneous
Type: Premium Paper
Words: 560
Pages: 3

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