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A 3 page introduction 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. Bibliography lists 3 sources.
Page Count:
3 pages (~225 words per page)
File: CC6_KSdissIntro.rtf
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the worlds richest and poorest countries only "wide" is to commit gross understatement. As example, at $498 annual per capita income, Sierra Leone is the worlds poorest nation in
terms of personal income (The Richest Nations and Territories of the World, 2002). Though the United States, the worlds richest nation, at $35,831 per capita GDP trails the world
leader Luxembourg by $63, total GDP of course is the worlds highest. The point is that the difference between the worlds richest and the worlds poorest nations is nearly
unimaginable. Developed nations have been lending to poor ones for years, with the intention of assisting them achieve economic growth. The purpose
of the desired growth is to lift the people of these nations from the abject poverty in which so many live. Despite whatever other problems he may have, former
Haitian president Jean-Bertrand Aristide aptly described the plight of the Haitian people in stating that Haiti has had to focus on elevating Haitis people, more than 80 percent of whom
live in crushing poverty, "from misery to poverty" (Samway, 1997; p. 12). "From misery to poverty" is the aim that international financial institutions
(IFIs) have had in taking on their "consulting" roles to the governments of poor nations. But as spending more than is available is not sustainable at the household level,
neither is it sustainable at the macroeconomic level. Many of these nations carry such crushing debt that they seek to borrow additional funds merely to pay the interest on
the loans they already have. Organizations such as the World Bank and the International Monetary Fund (IMF) are examples of the IFIs ("iffies"
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