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 …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
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 …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