Funding and the World Bank Essay

Introduction

In today's world economy one would think that only a few countries are developing since development is not heard of as it is mostly realized when countries borrow money to feed or to give medical supplies. The American government often offers aid to developing countries more so before meeting the demands of its own. As a result, ill feelings are created in the American economy. According to developing nations (n.d), there are estimated to be 137 developing countries in the world. Developing countries are whose Gross National Income is of $11,905 or less according to the World Bank statement (2014).

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Explore Whether or not Funding From International Lending Institutions Like the World Bank and the IMF are helping The Social, Economic, or Political Development of the Country That You Have Selected. Support Your Response with Example

Malawi is an example of a developing country in Sub-Saharan Africa. The state has many points of interest which include national parks and lakes. Salem Press Encyclopedia (2013) notes that Malawi is a landlocked country. The press has also pointed out that the state has a few resources and mostly depends on its neighboring for imported goods and necessities such as fuel. The country is bordered by three countries, i.e. Tanzania, Zambia and Mozambique. According to Country Reports- Malawi (2014) in September 2011 sure stream was awarded a license for two blocks in the Rift Valley of Lake Malawi. Factsheet (n.d), explains the program, Heavily Indebted Poor Countries (HIPC) Initiative. The plan was initiated by the Joint IMF-World Bank to ensure that no makes a debt they cannot handle. The programs main aim was to reduced debt packages. Since its initiation, the plan has been approved in 36 countries 30 of them being in Africa. As part of its success, the program has given out $75 billion for debt relief. As a result of the relief social spending has been boosted, reductions in debt services and improved public debt management have been realized.

Corruption has been cited as the main of funding and aid programs in developing countries. Country Reports-Malawi (2014) showed that the country's main risk results from suspension of aid due to corruption and mismanagement of funds. After president Joyce Banda took over, she made several reforms in the country. She reversed the economic stagnation of the nation. By the use of the International Monetary Fund, she reformed the exchange rates. As a result, the country was given donor aid. The country's budgetary assistance was suspended in October 2013 as a result of corruption allegations against the government. President Banda worked hard to change the country's financial situation. She first focused on restoration of the fiscal system of the nation. The IMF supported her measures, but the donors were cautious with valid reasons. Malawi is often a victim of exogenous shocks such as harsh weather conditions that result in food shortage and affect the growth of the country. The funding for developing nations including Malawi will often be misused by the government through corruption. As a result president, Banda and the IMF have put measures to ensure that the funding is appropriately used to enable the country to gain access to aid in the future when in need. The country is dependent on the IMF support and will realize the growth through the measures in place.

Any nation that needs to flourish must have a few things to guarantee its prosperity. The as a matter of first importance is to have a stable populace and economy. On the off chance that the nation is brimming with wiped out and creepy individuals, how might you hope to flourish? No family can keep up a decent workplace without having appropriate nourishment to give them the vitality to work. With a more beneficial populace, you have more laborers to work, less medical problems with the families and their kids, less demise because of things like craving and ailment, and basically a more advantageous, wealthier nation. Taking an activity to have a decent social insurance framework for everybody to live by will just outcome in a more advantageous economy. Having a sound economy not just guarantees the laborers are accessible to work every day except it eliminates the social insurance costs. A rational nation requires less accentuation on the treating contamination by vaccinations and precaution drugs. Hit a potential medicinal service full risk power before it turns into a medical issue with the general population and possibly escapes hand and slaughters of the economy.

Outside Aid can be a sensitive subject with creating nations as you have no real way to track the guide and realize that it is going where it is expected. Worldwide Health (2014) states that the administration has set up an objective to guarantee that there is access to fundamental wellbeing. They have a high rate of Aids/HIV at 10.6%, tyke mortality at 112 for every 1000 live births, and a maternal death rate of 675 of 100,000 births. The guide that is given by the United States seems, by all accounts, to be being utilized as it was intended to be. The guide is enhancing the wellbeing and prosperity by increasing better access to quality care. U.S. help is additionally being utilized for preventive measures and an objective of lessening jungle fever related passing's. U.S. help is additionally being used to show nourishment, family arranging, and regenerative wellbeing.

REFERENCES

Country Reports - Malawi. (2014). Malawi Country Monitor, 1-9.Data | The World Bank. (2014, January 1). Retrieved from http://data.worldbank.org/Developing Countries. (n.d.). Retrieved from http://www.isi- web.org/component/content/article/5-root/root/81-developing

Factsheet -- Debt Relief Under the Heavily Indebted Poor Countries (HIPC) Initiative. (n.d.). Retrieved from https://www.imf.org/external/np/exr/facts/hipc.htm

Flynn, S., Witherbee, A., & Ballaro, B. (2013). Malawi. Salem Press Encyclopedia,

Global Health. (2014, October 30). Retrieved from http://www.usaid.gov/malawi/global-health (n.d.). Retrieved from http://wbi.worldbank.org/wbi/Data/wbi/wbicms/files/drupal- acquia/wbi/Reflections on WBI Capacity Building in Health.pdf

Soomo Learning. (n.d.). Retrieved from http://www.webtexts.com/courses/10942- lunsford/traditional_book/chapters/1113974-what-does-success-look- like/pages/1111404#

USAID Malawi Health, Population and Nutrition Program Overview. (n.d.). Retrieved from http://www.usaid.gov/malawi/fact-sheets/usaid-malawi-health-population-and-nutrition-fact- sheet-2012-13