Religion in American by James Luther

Essay by BobbyBrownUniversity, Bachelor'sA, April 2004

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I believe there were no winners in the debt crisis. I believe the country that is helping out the third world countries is a great program. That shows that people around the world care about each other. And it also shows that there is some humanitarianism left in this cruel world. But I think the country that does not pay back is losing trust and integrity. The IMF may not ever give that country any money if they don't pay back.

However, we do have some countries that do pay back. They might not pay all at once but little by little they are paying back. However, we have to keep an open mind that a country might have a serious problem that is holding them back to repay. For example, Stiles talk about rampant corruption in Zaire, tax evasion in Argentina, over-bureaucratization in Peru, investment in unprofitable infrastructure projects in Turkey, and simple mismanagement and stop and go practices in Brazil.

Those are some of the problems that one country faces that prevents it from paying it back.

I believe we first have to clean out the corruption and teach countries how to use the money wisely. And help countries prioritize their problems so they know where to use the money first. For example, if a country is facing a devastating problem with not having clean water then compared to not having books they should concentrate on getting the water before getting the books.

IMF gives a chance to the third world countries to develop by helping them become financially stable. So in the end that countries value goes up in the international market, once it stabilized. IMF is a key to balance out the world. Every body would be equal and stable so they wont have to rely...