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Essay / Research Paper Abstract
An 8 page conclusion to a student-provided dissertation examining social and financial conditions in the Baltic region of Europe as the countries of the region stand poised for market-based growth and accession to the European Union. The dissertation focuses on the International Monetary Fund (IMF) and how it operates; the conclusion cautions against viewing the IMF as a financial savior. No sources listed.
Page Count:
8 pages (~225 words per page)
File: CC6_KSdissConc.rtf
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Bank are not perfect systems, but at present they are the institutions with the greatest influence over which nations can receive international financial aid and what would-be recipients must do
in order to comply with IMF requirements so that they can receive the financial aid they seek. As it currently is organized, the IMF reflects and reinforces the idea
that Western wealth is worthy of pursuing and that those with the greatest amounts of existing wealth have the right to determine the course of otherwise sovereign nations. The
financial assistance that the IMF offers to developing nations appears attractive and in fact has the potential of promoting growth when used properly, but it also has the effect of
placing developing nations virtually in bondage to developed ones that have far greater reserves of discretionary income. There are few conditions - outside of compliance with Western values -
in which the World Bank will not recommend loans to the governments of developing nations. If some international financial assistance has been useful, then it follows that more such
assistance will be even better. As the IMF and other international aid organizations pour loan proceeds into developing economies without also providing a means of repayment, then the total
debt that small and developing countries can build up far exceeds the ability of many to pay. This currently is the situation in
Haiti and many African nations, and Baltic nations are at risk of becoming casualties of this aid effect as well. Perhaps they are at less risk because of the
aspirations of most of the governments of the region to join the EU as soon as possible. The EU itself provides special attention and "grooming" to those nations of
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