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Author: Martin Dent
Publisher: Routledge
ISBN: 0429687443
Category : Business & Economics
Languages : en
Pages : 265
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Book Description
First published in 1999, this volume, the first to be published in on Jubilee 2000, describes the plight of 52 of the poorest nations in the world and puts in detail the case for radical cancellation of past inert debt. The cost and benefit of this remission and the groundbreaking concordat of peoples and governments that could accompany it are examined in detail. It contains critiques of the economic bases of the World Bank and IMF approaches to debt management in developing economies, as manifested in structural adjustment programmes and their maintenance, misuse of excess reserves and the methods used to carry out restructuring and development projects. The British anti-slavery campaign saw a mobilisation of public opinion for a great cause. Using this as a source of inspiration, public opinion must again be mobilised for what amounts to the greatest opportunity for justice, compassion and forgiveness facing us all at the beginning of a new millennium.
Author: Martin Dent
Publisher: Routledge
ISBN: 0429687443
Category : Business & Economics
Languages : en
Pages : 265
Get Book Here
Book Description
First published in 1999, this volume, the first to be published in on Jubilee 2000, describes the plight of 52 of the poorest nations in the world and puts in detail the case for radical cancellation of past inert debt. The cost and benefit of this remission and the groundbreaking concordat of peoples and governments that could accompany it are examined in detail. It contains critiques of the economic bases of the World Bank and IMF approaches to debt management in developing economies, as manifested in structural adjustment programmes and their maintenance, misuse of excess reserves and the methods used to carry out restructuring and development projects. The British anti-slavery campaign saw a mobilisation of public opinion for a great cause. Using this as a source of inspiration, public opinion must again be mobilised for what amounts to the greatest opportunity for justice, compassion and forgiveness facing us all at the beginning of a new millennium.
Author: Jeffrey D. Sachs
Publisher: University of Chicago Press
ISBN: 0226733238
Category : Business & Economics
Languages : en
Pages : 350
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Book Description
For dozens of developing countries, the financial upheavals of the 1980s have set back economic development by a decade or more. Poverty in those countries have intensified as they struggle under the burden of an enormous external debt. In 1988, more than six years after the onset of the crisis, almost all the debtor countries were still unable to borrow in the international capital markets on normal terms. Moreover, the world financial system has been disrupted by the prospect of widespread defaults on those debts. Because of the urgency of the present crisis, and because similar crises have recurred intermittently for at least 175 years, it is important to understand the fundamental features of the international macroeconomy and global financial markets that have contributed to this repeated instability. Developing Country Debt and the World Economy contains nontechnical versions of papers prepared under the auspices of the project on developing country debt, sponsored by the National Bureau of Economic Research. The project focuses on the middle-income developing countries, particularly those in Latin America and East Asia, although many lessons of the study should apply as well to other, poorer debtor countries. The contributors analyze the crisis from two perspectives, that of the international financial system as a whole and that of individual debtor countries. Studies of eight countries—Argentina, Bolivia, Brazil, Indonesia, Mexico, the Philippines, South Korea, and Turkey—explore the question of why some countries succumbed to serious financial crises while other did not. Each study was prepared by a team of two authors—a U.S.-based research and an economist from the country under study. An additional eight papers approach the problem of developing country debt from a global or "systemic" perspective. The topics they cover include the history of international sovereign lending and previous debt crises, the political factors that contribute to poor economic policies in many debtor nations, the role of commercial banks and the International Monetary Fund during the current crisis, the links between debt in developing countries and economic policies in the industrialized nations, and possible new approaches to the global management of the crisis.
Author: Martin J. Dent
Publisher:
ISBN:
Category : Debt
Languages : en
Pages : 36
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Book Description
Author: Carissa Janes
Publisher:
ISBN:
Category :
Languages : en
Pages : 60
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Book Description
Third World debt, also called developing-world debt or debt of developing countries, debt accumulated by Third World (developing) countries. The term is typically used to refer specifically to the external debt those countries owe to developed countries and multilateral lending institutions. In writing this book, the authors were motivated by one sickening statistic: 21,000 people die from starvation every day. That's one person every four seconds! More sickening is the fact such deaths are unnecessary given there is more than enough wealth in the world for everyone to at least receive the necessities of life and more than enough in the Third World for it to organically sustain itself. By the time you get to the end of this book, you'll see there's as much wealth to be found in the Third World as there is in the First World. Terms like 'Third World' and 'impoverished nations' are essentially misnomers as they imply wealth and resources are limited in these forgotten places. The authors aim to dispel that myth once and for all.
Author: Yanhui Zhang
Publisher: GRIN Verlag
ISBN: 3638379329
Category : Political Science
Languages : en
Pages : 18
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Book Description
Seminar paper from the year 2003 in the subject Politics - Topic: Globalization, Political Economics, grade: 1,3, University of Northampton, course: Global Political Economy, language: English, abstract: [...] In the 1970s, the world trade framework provided possibilities and opportunities for poor economies to grow. However, the harsh reality of poverty in those new independent nations was the main obstacle for any development. Their economic conditions suggested that borrowing money and gaining foreign aids were reasonable courses in the 1970s. In the meantime, the ex-colonial powers began rising awareness of remaining their influence over their past conquests. Considering of remaining economic dependency, western countries showed great willingness of lending money to poor nations. The result was an unprecedented flow of sources from the developed countries to the developing world. A large proportion of sources were in form of loans and international aids from commercial banks and western governments. Many developing countries had very large debts, and the amount of money they owed was quickly increasing. In 1982, Mexico came finally to the brink of default on its foreign debt. The critical situation marked the beginning of the “Third World Debt Crisis”. In 1970, the fifteen heavily indebted nations (using the World Bank classification of 1989) had an external public debt of $17.923 billion – which amounted to 9.8% for their GNP. By 1987, these same nations owed $402.171 billion, or 47.5% of their GNP. Interest payments owed by these countries went from $2.789 billion in 1970 to $36.251 billion in 1987. In 1991, the developing world as a whole owed a total external debt of $1.362 trillion, or 126.5% of their total exports of goods and services that year (Ferraro, V. & Rosser, M., 1994). Trying to pay off the debt became a serious problem for these countries. The nature and terms as well as the political conditions with them caused great hardship for their people. The debt crisis in the third world is highly linked to the issues of western policies, interest rates, export values and confidence in the international banking system. The crisis is thus an international phenomenon and to understand it fully needs a global perspective. This paper will examine the origins of the debt crisis in the third world in the first part and the consequences in the second part. The third part will give solutions and recommendations followed by conclusion in the fourth part.
Author: Rasmus Heltberg
Publisher: World Bank Publications
ISBN: 0821394606
Category : Social Science
Languages : en
Pages : 307
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Book Description
This book brings together qualitative studies conducted during 2008-11 in communities in sixteen countries, with eight case studies that illustrate how people in specific localities were impacted by global shocks and what coping mechanisms they used.
Author: Lance Morcan
Publisher:
ISBN:
Category :
Languages : en
Pages : 110
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Book Description
Dedicated to the impoverished in forgotten places of the world, this book questions whether the likes of the World Bank, the International Monetary Fund, the United States Agency for International Development and other big international aid organizations help or hinder the world's poorest people. It also questions whether the aid packages provided are genuine or whether they are scams designed to subjugate Third World countries.BANKRUPTING THE THIRD WORLD: How the Global Elite Drown Poor Nations in a Sea of Debt, by novelists, filmmakers and independent researchers James Morcan & Lance Morcan, exposes the culture of corruption within the aforementioned aid organizations and the arrogance with which they treat their Third World 'clients.'The Morcans reveal there's a nefarious hidden agenda at play whereby the 'generosity' extended by international aid organisations in assisting the development of the Third World and providing relief in the event of natural disasters comes with serious strings attached. Strings designed to fleece vulnerable nations.The reader is reminded the economic hit men popularized in John Perkins' 2004 bestseller 'Confessions of an Economic Hit Man' are still alive and well - in Africa in particular.BANKRUPTING THE THIRD WORLD puts two poverty-stricken nations under the magnifying glass to reveal the long-term impact of being the recipient of substantial financial aid from the West. The resulting debt accrued by these nations may surprise even the most skeptical reader.In writing this book, the authors were motivated by one sickening statistic: 21,000 people die from starvation every day. That's one person every four seconds!More sickening is the fact such deaths are unnecessary given there is more than enough wealth in the world for everyone to at least receive the basic necessities of life, and more than enough in the Third World for it to organically sustain itself.By the time you get to the end of this book you'll see there's as much wealth to be found in the Third World as there is in the First World. In fact, terms like 'Third World' and 'impoverished nations' are essentially misnomers as they imply wealth and resources are limited in these forgotten places. The authors aim to dispel that myth once and for all.It's hoped BANKRUPTING THE THIRD WORLD will contribute in some small way to the masses pressuring world leaders to eradicate the extreme poverty that sees millions of our fellow Human Beings - men, women and children - dying unnecessarily every year.
Author: Paul Harrison
Publisher: Harmondsworth, Middlesex, England ; New York, N.Y. : Penguin
ISBN:
Category : Fiction
Languages : en
Pages : 520
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Book Description
Monograph on problems of economic and social development and poverty in developing countries - discusses tropical climate and colonialism factors, criticizes adoption of western development theories by local elites, and covers agrarian structure, social conflicts in rural areas, trends in rural migration and urbanization, social implications of industrial development, population growth and malnutrition, political aspects of underdevelopment, etc. Bibliography pp. 439 to 453 and maps.
Author: M. Ayhan Kose
Publisher: World Bank Publications
ISBN: 1464815453
Category : Business & Economics
Languages : en
Pages : 403
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Book Description
The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Author: Elmar Altvater
Publisher:
ISBN:
Category : Debts, External
Languages : en
Pages : 312
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Book Description
Presents a series of case studies, illustrating the development of the international indebtedness crisis, primarily between 1978 and 1986.
