... , what this trend fails to account for, is that most of the countries that borrow from the IMF or the World Bank only do so mainly because they have low credit rating in the external market, which in itself they obtain by failing to service appropriately their previous loans. The fact that South Korea managed to achieve what it did without ... ...

• Word Count: 2437
• Approx Pages: 10
• Grade Level: Graduate

... decreased government services are the most direct blows, but changes in the tax system often emphasize easy-to-collect, regressive sales taxes that also disproportionately affect the lower classes. Tightened credit requirements and higher interest rates make it virtually impossible for small farmers and business to invest. For the last couple decades, development of the Third world was the foremost challenge ... ...

• Word Count: 1434
• Approx Pages: 6
• Grade Level: Graduate