Describe the project and what the negative outcomes were.
First and foremost, this course is very instructive because it permits me to know more about these financial institutions, and their real mission.
The project of the world bank or the IMF that created problems for the nation that received its assistance was in Africa, specifically in Ghana.
Ghana is a country located in West Africa, rich in natural resources like other countries in Africa, and a typical country loved by these financial institutions. The case of Ghana is the same operating system did by the world bank and the IMF to Greece.
In Northern Ghana, the government used to give subsidies to local rice farmers with the purpose to grow rice in order to cater the needs of the local population and the nation in large quantity. Both financial institutions step in and told the Ghanaian government that if they do not put to end subsidies in the northern part of Ghana, the government will not longer receive loans. The Ghanaian government execute, soon came the shortage of rice, and the government was forced to import rice from the United States at a high price to feed its population. …show more content…
An additional downside created by the diminution of subsidies is the migration of very young peoples to bigger cities such Accra and Kumasi, because there are no more occupations in their poorest region.
Finally, despite the Ghanaian government willingness to do what they think will be right, the government is still owing both institutions money because they are spending that money given to them quickly by buying expensive rice.
Explain whether or not you feel that the negative impacts could have been avoided? Why or why not?
In reality, I think this negative impact could not be avoided because the Ghanaian government would not know that both institutions purpose and major goals are to make money for themselves and their private investors. They were in full trust of these financial institutions and their sincere intentions to help.
Somehow the negative impact could have been avoided if the government knew what to expect from both institutions. For example, they could have subsidies other food crops complementary to rice, or look elsewhere for help, or keep on subsidizing their people. Further explain your opinions on whether you believe that international financial institutions such as these could consistently provide assistance in an objective, unbiased and responsible manner. Why or why not? As of now, these financial institutions would never consistently provide assistance in an objective, unbiased and responsible manner because it is carved in their DNA to look for profits, to manipulate the truth, to create terror and disruption for the name of money, if possible to destroy life on earth just for their solely well-being. I also think all those people should be taken to the international court of justice for their crimes, famine, and torture they are orchestrating all over the nations of this beautiful world. The day we will be able to take them to court, and judge them as criminals, and then we could start to talk about objectivity and responsible manner. I as well believe that financial institution could provide assistance in an objective manner, but it should be insured through the power of people, not manipulated and corrupted power of people. The world
First and foremost, this course is very instructive because it permits me to know more about these financial institutions, and their real mission.
The project of the world bank or the IMF that created problems for the nation that received its assistance was in Africa, specifically in Ghana.
Ghana is a country located in West Africa, rich in natural resources like other countries in Africa, and a typical country loved by these financial institutions. The case of Ghana is the same operating system did by the world bank and the IMF to Greece.
In Northern Ghana, the government used to give subsidies to local rice farmers with the purpose to grow rice in order to cater the needs of the local population and the nation in large quantity. Both financial institutions step in and told the Ghanaian government that if they do not put to end subsidies in the northern part of Ghana, the government will not longer receive loans. The Ghanaian government execute, soon came the shortage of rice, and the government was forced to import rice from the United States at a high price to feed its population. …show more content…
An additional downside created by the diminution of subsidies is the migration of very young peoples to bigger cities such Accra and Kumasi, because there are no more occupations in their poorest region.
Finally, despite the Ghanaian government willingness to do what they think will be right, the government is still owing both institutions money because they are spending that money given to them quickly by buying expensive rice.
Explain whether or not you feel that the negative impacts could have been avoided? Why or why not?
In reality, I think this negative impact could not be avoided because the Ghanaian government would not know that both institutions purpose and major goals are to make money for themselves and their private investors. They were in full trust of these financial institutions and their sincere intentions to help.
Somehow the negative impact could have been avoided if the government knew what to expect from both institutions. For example, they could have subsidies other food crops complementary to rice, or look elsewhere for help, or keep on subsidizing their people. Further explain your opinions on whether you believe that international financial institutions such as these could consistently provide assistance in an objective, unbiased and responsible manner. Why or why not? As of now, these financial institutions would never consistently provide assistance in an objective, unbiased and responsible manner because it is carved in their DNA to look for profits, to manipulate the truth, to create terror and disruption for the name of money, if possible to destroy life on earth just for their solely well-being. I also think all those people should be taken to the international court of justice for their crimes, famine, and torture they are orchestrating all over the nations of this beautiful world. The day we will be able to take them to court, and judge them as criminals, and then we could start to talk about objectivity and responsible manner. I as well believe that financial institution could provide assistance in an objective manner, but it should be insured through the power of people, not manipulated and corrupted power of people. The world