1. "The IMF and World Bank hurt poor countries and undermine de
Table 1 below, which relates to low income countries in Sub Saharan Africa gives us an indication of the kind of beneficial terms to which low income countries were given access to and highlights the fact that these already favourable terms actually improved over the years. ... (all creditors) 1980 1990 1997 Rate of Interest 6.5% 3.3% 1.5% Maturity (years) 18.5 28.3 38.1 Grants as % of loans 35% 129% 168% Source: World Bank, Global Development Finance and World Debt Tables, various issues (Killick 2000, p.21). The loans mentioned above, have never posed a major threat to the in...
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