Good Monetary Policy Research Paper Example
The president of the World Bank is traditionally an American. When the Marshall Plan went into effect inmany European countries began receiving aid from other sources. Faced with this competition, the World Bank shifted its focus to non-European countries. Untilits loans were earmarked for the construction of infrastructure works, such as seaports, highway systems, and power plants, that would generate enough income to enable a borrower country to repay the loan.
Beforethe reconstruction and Adjistment loans the World Bank made were relatively small.
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Its staff was aware of the need to instill confidence in the bank. Fiscal conservatism ruled, and loan applications had to meet strict criteria. France had to agree to produce a balanced budget and give priority of debt repayment to the World Bank over other governments. Here Bank staff closely monitored the use of the funds to ensure that the French government met the conditions.
In addition, before the loan was approved, the United States State Department told the French government that its members associated with the Communist Party would first have to be removed. The French government complied and removed the Communist coalition government —the so-called tripartite. Adjhstment
Within hours, the loan to France was approved. The size and number of loans to borrowers greatly increased, as loan targets expanded from infrastructure into social services and other sectors. Rotberg used the global bond market to increase the capital available to the bank. Clausenin His decision to replace the bank's Chief Economist, Hollis B. Chenerywith Anne Krueger was an example of this new focus. Krueger was known for her criticism of development funding and for describing Third World governments as " rent-seeking states".
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During the s the bank emphasized lending to service Third-World debt, and structural adjustment policies designed to streamline the economies of developing nations. UNICEF reported in the late s that the structural adjustment programs of the World Bank had been responsible for "reduced health, nutritional and educational levels for tens of millions of children in AsiaLatin Americaand Africa ".
Since then, in accordance with its so-called "Six Strategic Themes", the bank has put various additional policies into effect to preserve the environment while promoting development. For example, in the bank announced that to protect against Analysis The Migrant Family, especially in the Amazon, it would not finance any commercial logging or infrastructure projects that harm the environment. In order to promote global public goods, the World Bank tries Structural Adjustment In Haiti Essay control communicable diseases such as malaria, delivering vaccines to several parts of the world, and joining combat forces.
This is significant because the World Bank tends to lend more readily to countries that are friendly with the United States, not because of direct U. On 23 MarchU. He announced that he would resign effective 1 February The plan is set to affect over two billion people.
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For the goals to be realized, six criteria must be met: stronger and more inclusive growth in Africa and fragile states, more effort in health and education, integration of the development and environment agendas, more as well as better aid, movement on trade negotiations, and stronger and more focused support from multilateral institutions like the World Bank.
Although results vary widely within regions and countries, the trend indicates that Structural Adjustment In Haiti Essay world as a whole can meet the goal of halving the percentage of people living in poverty. Less than a quarter of countries are on track for achieving the goal of halving under-nutrition. The World Bank Group Gender Action Plan was created to advance women's economic empowerment and promote shared growth.
Reduce Child Mortality: There is some improvement in survival rates globally; accelerated improvements are needed most urgently in South Structural Adjustment In Haiti Essay and Sub-Saharan Africa. An estimated 10 million-plus children under five died in ; most of their deaths were from preventable causes. Improve Maternal Health: Almost all of the half-million women who die during pregnancy or childbirth every year live in Sub-Saharan Africa and Asia. There are numerous causes of maternal death that require a variety of health care interventions to be made widely accessible. In the eight worst-hit southern African countries, prevalence is above 15 percent. Treatment has increased globally, but still meets only 30 percent of needs with wide variations across countries.]
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