Many developing nations are in debt and poverty partly due to the policies of international institutions such as the International Monetary Fund (IMF) and the World Bank.

Their programs have been heavily criticized for many years for resulting in poverty. In addition, for developing or third world countries, there has been an increased dependency on the richer nations. This is despite the IMF and World Bank’s claim that they will reduce poverty.

Following an ideology known as neoliberalism, and spearheaded by these and other institutions known as the “Washington Consensus” (for being based in Washington D.C.), Structural Adjustment Policies (SAPs) have been imposed to ensure debt repayment and economic restructuring. But the way it has happened has required poor countries to reduce spending on things like health, education and development, while debt repayment and other economic policies have been made the priority. In effect, the IMF and World Bank have demanded that poor nations lower the standard of living of their people.

  1. thunderwishes reblogged this from karnythia
  2. arnetia reblogged this from karnythia
  3. heroin-e reblogged this from jhameia
  4. swagandpassion reblogged this from str8nochaser
  5. youcancallmekels reblogged this from loveyourchaos
  6. honeybunches-oats reblogged this from loveyourchaos
  7. rat2rrj reblogged this from badnewsmouse
  8. atallyn reblogged this from karnythia
  9. ancientbruises reblogged this from loveyourchaos
  10. frostedglass reblogged this from no-buthonestly
  11. no-buthonestly reblogged this from loveyourchaos
  12. liminalis reblogged this from loveyourchaos
  13. alittledysfunctional reblogged this from iamthecrime
  14. dr-erland reblogged this from astroprojection
  15. badnewsmouse reblogged this from astroprojection
  16. astroprojection reblogged this from fleursdartifice
  17. uglychu reblogged this from nikariot
  18. fleursdartifice reblogged this from karnythia
  19. batgirldances reblogged this from loveyourchaos
  20. strugglingtobeheard reblogged this from karnythia
  21. karnythia reblogged this from jhameia
  22. nikariot reblogged this from loveyourchaos
  23. greymattur reblogged this from loveyourchaos
  24. purplepeople-eater reblogged this from loveyourchaos
  25. nosebleedseeds reblogged this from jaraconnell
  26. tanglad reblogged this from zuky