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The Bretton Wood's institutions play a big role in intervening with internal affairs of developing countries. How successful hav - Essay Example

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Name: Instruction: Task: Date: Bretton Wood's The essence of development is crucial especially in developing nations to boost both economic growth and the GDP. In the same view, there should be stronger institutions and leaders who ensure funds meant for development are correctly disbursed and used…
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The Bretton Woods institutions play a big role in intervening with internal affairs of developing countries. How successful hav
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Download file to see previous pages This is through regular monitoring and rigid policies especially on nations with weak institutions. On the other hand, foreign investment for poor nations should be limited to acquiring manageable loans and grants that do not collapse the economies. This will increase excellence both African and Asian nations in terms of economic prosperity. Development entails the well-being of a nation or individual in various forms. This may include economic, social or political development and the way it affects the citizens of such a country. Similarly, development may also encompass the gradual advancement or growth that leads to the progress in other sectors of the nation in terms of Gross Domestic Product (GDP) and exports among others. Other fundamental areas include education, health and governance in the context of the provision of services for the benefit of the citizenry. Therefore, the involvement of Bretton Wood’s institutions such as IMF, World Bank and IBRD ensure there is a financial regulation and fair dispensation of funds to sponsor developmental projects. Such institutions also participate in the regulation of the systems that oversee the monies dished to nations especially the third world countries (Szirmai 45). On that account, there are several ways, which education development, through funds acquired from Bretton Wood’s institutions has helped the advancement of nations. This is manifested in the increase of public schools and literacy levels where there participation of IMF and World Bank is high. In other words, education is now associated with sustainable development that permits people to gain skills, knowledge and skills. Other benefits include values and attitudes that are meant indicate a sustainable future where everyone thrives. Similarly, educational development has meant that matters of sustainable prosperity are translated in areas of learning and teaching for the purpose of students and society. In the same breadth, Bretton Wood’s institutions have given funds to support the reduction of poverty, biodiversity and sustainable consumption to education an enjoyable venture (Tiwari 167). This is manifested in a nations such India, Indonesia, Vietnam and Singapore where financial aid is boosting the education standards of most schools. In this case, the IMF and World Bank has dispensed funds in the ministries of education to facilitate standards of education. Therefore, this has translated to competencies of imagination, critical thinking and decision making skills in a mutual may for kids. This is also apparent in teachers and tutors who get motivation from governmental and non-governmental ventures. However, when it comes to economic development in terms of assistance from Bretton Wood’s institutions, there are interesting issues. This suggests that economic development entails concerted and sustained actions that are used by policymakers in the promotion of the living standards including economic health. In the same breath, y in failed states mostly found in Africa such as Somalia and Democratic Republic of Congo, economic development refers to qualitative and quantitative alterations in the economy (Mbaku 134). Therefore, IMF and World Bank have not been successful in their development ventures because of several reasons. For example, issues such as bad governance policies, corruption and civil wars have hampered the efforts of Bretton ...Download file to see next pagesRead More
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