Abstract This paper reviews the HeavilyIndebtedPoorCountriesinitiative (HIPC) and discusses whether or not the program is really working or, like so many other initiatives, is letting the developing world down. The paper concludes that, while far from perfect, the HIPC has worked exceptionally well in some nations and has given those countries at least a partial lease on their own futures.
From the Paper "Lastly, a few brief passages need to be devoted to a review of how HIPC, far from debilitating the nation of Senegal, may actually have saved it from further government sloth and irresponsibility. For example, the IMF announced in early 2005 that Senegal was finally employing macro-economic policies that offered better prospects for the future. To wit, the regional central bank's monetary polices were finally achieving price stability and "prudent" fiscal programs put in place by the government were belatedly resulting in greater efficiency (courtesy privatization) and in appreciable GDP growth. Before drawing this section of the paper to a close, it must also be pointed out that HIPC - and particularly the closely-watching eye of international organizations such as the IMF - seem to have encouraged a new age in political stability within Senegal, the sort of political stability that has sparked foreign investors to take a renewed interest in that land (Ford, 52-53). Much-maligned though it is, HIPC is certainly a means by which wayward states can be compelled to introduce much-needed reforms that better the lives of their citizens."
Abstract This paper discusses the new initiative named The HeavilyIndebtedPoorCountries (HIPC) Initiative, which was proposed by the World Bank and the International Monetary Fund in 1996 after it became obvious that not only were the world's poorest countries unable to pay back loans made in the 1970s, but that the debt was creating a situation of increasing and continuing poverty. The paper discusses how the loaning systems of the 1970s were partially to blame for now ever-increasing debt and how this initiative will help re-establish economic autonomy is some of these third-world countries.
From the Paper "The roots of the debt problem can be traced back to the lending policies of the 1970s, when high oil prices hit the developing countries hard; in order to keep their governments and economies going, they turned to richer countries, foreign banks and international organizations for loans. International lenders, flush with cash from "petrodollars" from oil-producing states, assumed that sovereign debt was a good risk because there was a prevalent belief that governments do not default on their loans."
This paper examines the real reasons behind the debt crisis faced by developing countries, focusing on the structural reasons for their continuing debt before turning to possible solutions.
Abstract Reasons for international debt are discussed with examples brought from Mexico and Brazil, oil exporters and oil importers; debt rescheduling; debt relief and first-world aid; the International Monetary Fund and the affect the IMF has had on poorcountries. The two major methods of international reserve creation: the mining of gold and the acquisition of reserves in the form of key currencies are discussed along with their problems. Recent structural adjustment and debt relief are also examined, as well as the inability of poorer countries to pay their scheduled debt service and the HeavilyIndebtedPoorCountriesInitiative and its problems. This leads to a discussion of macro-economic adjustment.
From the Paper "The current climate of recession has highlighted the reasons for raising the calls for poor country debt relief. It is difficult to believe claims made by creditors that they cannot afford further debt relief. Canceling effectively unpayable debts owed by the poorest countries may turn out to be a sensible policy for all creditors. As well as the strong moral argument for debt relief, there could be sound financial grounds for doing so to stimulate the global economy and promote growth."
An examination of the theoretical issues and empirical evidence presented by Jagdish Bhagwati and T.N. Srinivasan in their article, "Trade and Poverty in the PoorCountries."
Abstract This paper examines the article, "Trade and Poverty in the PoorCountries," written by Jagdish Bhagwati and T.N. Srinivasan. The paper discusses the debate in the article, which revolves around the relationship between growth and poverty in the context of international trade. The theoretical issues and the empirical evidence that the authors present are described in the paper.
Table of Contents:
Theoretical Issues
Empirical Evidence
From the Paper "If growth is concentrated in highly industrialized and central regions, and does not encompass the underdeveloped parts of the region, then growth will avoid the poor and will even further deepen the income inequality. Furthermore, in this sort of situations, the poor will be even more disadvantaged, as their products resulting from working the land will be unable to compete with the products manufactured in the industrialized centers - This is a true statement and can easily be supported by basic economics notions. Say for instance that the central region of a large city is subjected to increased industrialization and major investments from foreign partners. This will increase the value of that particular region, will capture the interest of other investors and will increase the living standards of the workers and the population located in the vicinity of the new business venture. However, the marginal regions of the city, where the poorer population lives and works will remain unaffected by the central developments. The situation will as such generate relative poverty and will even further increase the income inequality."
Abstract The paper describes how for the last two decades, there have been efforts to lighten the debt burden of heavilyindebtedpoorcountries, (HIPC). The most recently enhanced HIPC initiative is believed to provide faster and deeper debt relief to these countries while encouraging them to use the funds saved to fight poverty and raise living standards. The paper discusses how the best way to lift the poor population in low-income countries out of poverty is to strengthen their economic growth. The paper concludes that these poorcountries would realize greater benefit from receiving foreign aid than they would from debt forgiveness.
From the Paper "By resolving the poor countries' debt crisis through these various initiatives, governments in wealthy countries have implicitly acknowledged a significant transfer of resources they have provided in the past to some of the poorest countries (Powell 2000). Exports of creditor countries were supplied but not ultimately paid for, and while there are strong arguments for transfers of resources to low-income countries, it is doubtful that this was the most effective means of providing them, since resources were directed at neither the most efficient projects nor the poorest people (Powell 2000)."
Abstract This paper reviews the impact of debt relief on domestic social, political and economic situations. According to this paper, the external debt situation for a number of low-income countries has become extremely difficult in recent years, prompting the IMF and the World Bank to design a framework to provide special assistance to the heavilyindebtedpoorcountries (HIPC).
Contents:
Introduction
Challenges and Future Policies
Diagnosis and Reflections on Poverty Reduction Policies
Poverty and Recession in Sub-Saharan Africa
Africa Deprived of Its Inheritance
The Urban Dynamics: Cities Suffer Most
Policy Design Post Evaluation
Conclusions
From the Paper "As for the implementation of the strategies, the principle of participation from different members of society opens up new prospects that will have an impact on the way national affairs are led. By favouring respect for the right to information and expression, participation fulfils one objective in that it deals with one of the key factors of poverty, namely exclusion and marginalisation. But the potential impact of this precept goes way beyond this aspect. Participation will only take on its full meaning if it really helps solve the problem of the lack of democracy in poor countries. It should give extra capabilities and power to intermediate bodies (the media, trade unions, associations, etc.) in drawing up, monitoring, controlling, assessing and redirecting the policies. Information is of course of utmost importance in this respect, and its formative nature must be underlined. It makes public choices explicit and increases transparency in the management of state affairs, whilst offering the different players in society the possibility of exerting pressure, or even taking sanctions in the case of failure. In short, making the state accountable for its actions before its citizens is at stake."
Tags: bank, debt, domestic, economics, gdp, gnp, imf, implications, relief, world
Abstract This paper addresses the issue of how adept external interventions from first-world nations such as the United States can be in promoting economic prosperity and development and improvement of standards of living in identified poorcountries, ascertained primarily as belonging to the Asian, African, and Latin American nations. The research provided analyzes how U.S. economic policies and intervention on poverty in societies of these regions are inappropriate, since poverty as a concept is highly-dependent on the culture of these societies. The writer discusses that U.S. intervention on poverty in Latin American and Asian countriesinitially resulted in economic prosperity, but backfired in the long-run because economic policies were simply inappropriate to the culture of countries wherein these policies were applied, resulting in their eventual economic downfall.
From the Paper "In Perlman's analysis of one of the external interventions applied in Latin America by the US, inappropriateness in assessing LatAm nations' poverty rate and standards of living vis-a-vis the American standards was the focus of discussion. In it, the author stressed that poverty should not be assessed based on American standards on poverty because LatAm nations have different perceptions and conceptions when it comes to determining the level of poverty of specific societies in specific kinds of cultures. One of the examples discussed is the different conception of poverty in Brazil, wherein social inequality perceptions are inconsistent across various economic classes. While there is a general belief that the gap between the rich and the poor have increased over the years, assessment of how poor the individual is are not accurately determined."
Abstract The paper discusses the spread of globalization and the increasing disparity between the haves and the have-nots, especially in the international scale. The paper looks at the current Zambian Copperbelt area as an example. The paper discusses the assertions of James Ferguson who blames the colonists, the government and those in power for the continued suffering African countries experience as a result of development initiatives. The paper concludes that citizens of Africa must realize that through their own power, ambition and initiative they can become members of the worldwide 'developed' country fraternity.
From the Paper "It seems as if the key word in the business world today is 'globalization', with worldwide business ventures, partnerships and conglomerations being formed on a daily basis. As these events take place, the business industry, as well as the public, is able to discern a wider disparity between the haves and the have nots. This disparity is noticeable on the local community level, as well as nationally, and can be especially noticed on the international scale, with entire countries succumbing to a 'developmental' mindset. Such a way of thinking can lead some countries to a financial position that, instead of being 'developed', can mean huge amounts of debt and an infrastructure that can often be likened to a deck of cards."
Abstract This paper considers the best economic strategy for poorcountries to develop and applies this to South Africa. The paper notes the need for an infrastructure and for foreign investment from multinational enterprises in particular, with South Africa having to overcome the economic damage done by the long-term and now abandoned policy of apartheid, which contributed to the high unemployment and poverty facing the country.
From the Paper "Economic development is a subject of study in the West and a vital necessity for the poor countries of the world. Technology is identified as one of the four key elements for a country to generate a higher standard of living, along with natural resources, capital, and a skilled workforce. Emerging nations today can take full advantage of the technological developments that have been made by developed nations (Mobius 37). A country like South Africa has particular difficulty today because of the long neglect of proper development during the decades of apartheid, when racial divisions created a lopsided economic system where whites benefited and blacks did not."
This paper examines the experiences of infrastructure provision in developing countries, assessing the instruments typically used in strategic development, planning, and implementation.
Abstract This paper looks at experiences in providing basic services, such as transport, water and sewerage to the urban poor in the developing world. It looks at the various ways in which urban authorities attempt to raise funds for improvements, such as privatization versus state ownership. The emphasis these days is on 'participation' by local people in the provision of services that they benefit from. Examples are given of public, private and participatory provision of essential services.
From the Paper "One of the most significant of all postwar demographic phenomena and the one that will be of major concern in the future is the rapid growth of cities in developing countries. The developing world is being transformed from a world of villages to a world of towns and cities. In 1960 less than 22% of the population of low and middle income countries was urban. By 2020 it is estimated that more than half of the population of developing countries will be urban (World Bank: 1995). This enormous growth over the past fifty years has and will continue to place enormous strain on the infrastructure and general services within developed countries. Former World Bank President Robert McNamara expressed his scepticism that huge urban agglomerations could be made to work at all: "These sizes are such that any economies of location are dwarfed by costs of congestion. The rapid population growth that has produced them will have far outpaced the growth of human and physical infrastructure needed for even moderately efficient economic life and orderly political and social relationships, let alone amenity for their residents" (Todaro: 1997: 8). Research increasingly suggests that the problem is not just a lack of resources, but that the resources available are used inefficiently. Here we will discuss experience of infrastructure provision under various systems of administration and planning."
Abstract The paper presents both sides of the question as to whether the United States should provide assistance to so-called "poorcountries" or not. The paper offers this debate that is as old as the U.S. itself, with citations supporting the arguments made for each side. There is no "decision" made within the paper as to which policy is correct.
From the Paper "Political leaders in the world's richest nations frequently proclaim their fervent desire to end poverty worldwide and boast of their spending on foreign aid to poor nations. Throughout the course of this paper I shall examine both sides of the issue of providing international aid to poor countries; thus I will explore the rationale in favor of providing aid to poor nations, as well as exploring the rationale of those adhering to the ideology that so-called poor nations are not worthy of expenditure of resources from the United States. The United States has a long history of extending a helping hand to those people overseas struggling to make a better life, recover from a disaster or striving to live in a free and democratic country."
Abstract This article looks at the impact of current industrial technology on developing countries. In this essay, the writer includes a look at historical development and globalization. Emerging technologies and other related issues are also discussed. The writer looks at the connection between "developed" countries and a high level of industrialization and industrial technology.
From the Paper "The degree of access to and use of industrial technology in the broad sense is by far the primary factor distinguishing the world's rich nations from its poor ones. The world's rich nations are with few exceptions highly industrialized while the world's poor ones are with equally few exceptions lacking in industrial technology. Industrialization is far more important to development than are natural resources. Many impoverished nations have an abundance of resources while wealthy and technically advanced Japan has very few natural resources ... "
Abstract This paper discusses McDonald's McCafe initiative. The paper examines how McDonald's strong market position as the largest food service and fast-food retailing chain in the world is bolstered by robust all-round growth. The paper further examines how growing health consciousness among consumers has added to the McDonald's problems in a saturated market.
From the Paper "The fast food industry is a highly competitive market and is saturated with several franchises that cater to the on-the-go customer. With the spread of globalization, fast food restaurants are popping up in cities all over the world and in some of the most interesting locations. Some consumers argue that there are too many fast food restaurants taking over towns and putting 'mom and pop' restaurants out of business. Now, super retailers are offering their shoppers access to a quick meal on the go, a chance to refuel before heading back into the aisles and aisles of products. "
Abstract The following paper looks at the Christian initiation of adults; specifically, at mystagogy and at its role in integrating catechumens into the parish community. In reviewing this role, the paper discusses whether or not the technical, systematic type of mystagogy illustrated by catechesis to the newly-baptized is the best vehicle for integration, or whether a more informal type of mystagogy that emphasizes support networks and friendships is superior - or at least as critical. In the end, the paper looks at the dueling perspectives and suggests that proper mystagogy really needs both formal and informal approaches if it is to be successful.
From the Paper "At the same time, a church - more so in the non-Western world, though it is also applicable to churches in Western Europe and America, as well - may be prompted for a host of reasons to emphasize the technical definition of mystagogy when welcoming newcomers. At the top of this list is the fact that there are millions of Christians (most of all in Third World nations) who have no access to the written Gospel and/or to the conventional ecumenical documents except via oral transmission or via mnemonic devices (Naude, 235+)."
Abstract This paper looks at the book "Ethiopia: A Country Study" from the point of view of its unique angle in which it examines the history and society of Ethiopia. It shows how the authors adopt a holistic approach to the analysis of Ethiopia, providing a detailed description and interpretation of the country's major historical events, in addition to its social, economic, political, and security systems.
From the Paper "Presented in a chronologically well structured manner, and in language that is acceptable to both academic experts and a general audience, the study conducts an in-depth analysis of Ethiopia's social, political and economic institutions, their development, efficiency and interrelationships. Ethiopia: A Country Study places great emphasis on the effects of cultural factors and, unlike many similar research projects, the authors of this book have closely examined and considered the results of political and economic development upon the different ethnic groups within Ethiopia, in addition to those of the population as a whole."
Tags: africa, society, economy, development, third, world, country, population
