The IMF and WB’s Pernicious Policies are the Underlying Causes of Global Poverty: - The Case of Ethiopian Peasants. By Denboba Natie, Edinburgh, Scotland, August 19, 2014 IMF/WB’s Globally Prescribed Poverty. Since early 1980s intelligentsia supporting genuine poverty reduction strategies and alleviating the sufferings of majority caused due to this- has argued that the ‘Trickledown Theory’ rhetoric promoted by the ideologies of Structural Adjustment Programs/Policies (SAPs) have benefited only few groups of traditionally affluent members of societies who had opportunities to be either born into such a family who had historically exploited the society- thus have accumulated unimaginable amount of wealth and are able to send their future would be decision makers children to various famous academic institutions or others who had huge financial advantages. The executive secretary of Economic Commission for Africa (ECA), Carlos Lopes (25, November 2013), argued that SAPs were in fact not successful in achieving their desired objectives of increasing investment efficiency or reinvigorating growth. He further stresses that SAPs rather has imposed serious socio-economic problems on African continent. Directly opposing to his argument, the former economist of World Bank’s Africa division, ‘Shantayanan Devarjan (2012) claims that SAP’s policies have indeed delivered economic growth and poverty reduction. The later claim has little or no evidences thus entirely disputed by almost all groups of intelligentsia interested in the subject. Read More sidamanationalregionalstate.blogspot.co.uk/2014/08/the-imf-and-wbs-pernicious-policies.html
Posted on: Tue, 19 Aug 2014 08:44:39 +0000
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