Research reveals that most developing nations make it a strategic plan to depend on lending services from global lending organizations (Njogu, 2007). IMF and the World Bank are the major lenders as far as this is concerned. This is a classical way of stimulating development in all sectors of the global economy. Up to date analyses show that nations that embark on international borrowing continue to register enormous multispectral advancements that would otherwise not be experienced. Kenya is one of the developing nations that offer a satisfactory case in point in regard to the examination of this topic. This nation has continued to gain heights in healthcare and human capital development compared to others in its region (Van, 2001).
The case of Kenya illustrates all the details of the input that has been brought about by the involvement of international lending organizations. There are political, economic and social advancements that exhibit the value of international borrowing. All of these can be put together into a common conclusion that the nation has successfully beefed up its limited resources through the use of external aid. In fact, there are real time developments to look into in the validation of international borrowing as a key in of development.
Funding from international lending institutions like the World Bank and the IMF and the social, economic, or political development of the country
The interaction of the nation of Kenya and the World Bank dates back to the times of initial development immediately after independence (Honohan & Beck, 2007). The nation developed strategic plans of beating poverty. This was one of the historical formations of the first internal government. Through grants from the World ...
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...e nations can, therefore, align themselves with global standards of living if their leaders continue being accountable. It is possible to eliminate the presence of persons who live with daily earnings of less than one US Dollar.
Works Cited
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Fox, M. L., Liebenthal, R., & World Bank. (2006). Attacking Africa's Poverty: Experience from the Ground. Washington, D.C: World Bank.
Honohan, P., & Beck, T. (2007). Making finance work for Africa. Washington, DC: World Bank.
Njogu, K. (2007). Governance and development: Towards quality leadership in Kenya. Nairobi, Kenya: Twaweza Communications.
Van, . W. N. (2001). African economies and the politics of permanent crisis: 1979-1999. Cambridge [u.a.: Cambridge Univ. Press.
The impact of the Structural Adjustment Programs imposed by International Financial Intuitions (IFIs) such as the World Bank and the International Monetary Fund on the developing countries of Africa has led to the destruction of Africa’s social sectors and has handicapped Africa in its fight with poverty, the AIDS pandemic, and keeping children in school.
The situation became even more complex when the British colonial administration introduced a currency-based income tax system. For centuries, the Kenyan economy had largely rested on the exchange of livestock and other goods. With this in mind, it should come as little su...
While the United States has a long-standing foothold on the oil in Africa, China has been dominating the other natural resources available for the past 20 years (Bhorat 2013). Additionally, the current perception of President Obama in Kenya seems to have changed dramatically over the recent years. While much of the letdowns were due to high expectations on the Kenya’s population, the general consensus was that President Obama has not done much to help improve the current state of the Kenyan economy. The current programs in Africa are programs that were enacted or established by President's Clinton and George W. Bush (Mwangi 2013). This has allowed the Chinese government to move in and expand operations in the region.
Furthermore, Schumacher also argues that the goal of the government and community is to ensure that every person within the community has the means to lead a meaningful existence. Globalization, on the other hand, fails to benefit communities. Many developing nations that host multinational corporations have a large percentage of the population with little or no means of survival.
...o get their pay. The amount of people in the world who are in poverty are increase by the minute. If wages are increased like in Latin America, less people would be in poverty and would not need assistance from the governments. “European Commissioner for Development, Andris Piebalgs, commented: ‘...Big challenges lie ahead of us: ensuring that we achieve the Millennium Development Goals and make poverty a thing of the past. For the way forward we all need to work together - the global community should agree on an ambitious joint agenda for the eradication of poverty and sustainable development…’”(Europa). Poverty is a problem throughout the world, if every country acts together and pushes for no poverty, the people who work minimum wage would not experience this problem. Poverty would decrease and it would be as if it had never been a problem throughout the world.
A number of policy interventions have been originated since independence to address the growing employment problem in Kenya, and with that, make an attempt at bettering the lot of the Kenyan youth. The earliest among these were the Kenyanization policies adopted at independence in which it was envisaged that young Kenyans would quickly take over duties and responsibilities from departing colonial staffers. Other policy measures included promotion of growth and development of the informal and jua kali sector in the 1990’s.
The roots of the colonial history of Kenya travels back to the Berlin Conference in 1885, whe...
The health services are a devolved function in the current transition to county system. Kenya had an annual economic growth rate of about 2.2% in the 90’s with a further increase in GDP of 4.5% in the last decade (World Bank, 2010) which was disrupted by the political crisis in 2007. According to World Bank (2010) statistics, about 46.6% of Kenyans live below the national poverty level. It is one of the countries with highest levels of economic inequity in the society (World Bank, 2010). According to WHO (2013), Kenya is ranked position 147 0ut of 177 with a Human Development Index of 0.521.
On the eastern coast of Africa lies a land full of sunny blue skies and large plains in which zebras and elephants roam. This land is the country of Kenya. Outside of Kenya’s cities and towns lies many samples of natures beauty. Unfortunately, the people living in this land are troubled by their struggle with the government and trying to form a democracy. Matthew Carotenuto stated, “Much of the world had historically viewed Kenya as an island of peace and economic potential in a roiling sea of stateless chaos.” What he means is that people have long seen Kenya as a peaceful place that is surrounded by countries suffering from all sorts of violence and unfortunate circumstances. What many people do not know is that Kenya has a long history for political violence going way back to when the country was colonized. Understanding that Kenya’s past violence was due to their struggle for social and political authority helps us understand some of their violence issues today. According to Maina Kiai, violence broke out after Kenya’s 2007 election. Many people had thought that Kenya was a more peaceful country compared to others in Africa because they were working towards a democracy. Currently Kenya is a republic (“Kenya” The World...). Another thing Kiai mentioned is that one of Kenya’s major political problems is that Kenya's constitution gives the president full power to elect anyone he wants into a political position for any salary he chooses. Scott Baldauf and Robert Crilly also explain how Kenya is trying to become a democracy but its political system is weak and allows the president too much power, making the nation a dictatorship in disguise. This leads to many ethical issues within the governments systems. We should care about Ken...
The International Monetary Fund and the World Bank were created as a result of the Bretton Woods Conference. Both provide assistance to countries suffering economically. While the IMF is a cooperative institution that aims to create an organized global system of payments and receipts, the World Bank is an institution that aims to help developing countries (Driscoll 1). Both play a part in the economies of struggling nations with the goal of reducing their burden and helping them to survive in the global economic system. Unfortunately, in many cases their practices within developing nations have been seen to create more harm than good. This is possibly because both institutions use a one size fits all approach when aiding countries rather than gaining a deep understanding of each country they are involved in and catering their approach as a result. In this paper I will examine the practices of the IMF and World Bank in developing nations that have led to failure and the effects the policies had on these countries.
International Monetary Fund (IMF), 2008, “International Monetary Fund: Issues Brief”, IMF Publications, Available at : www.imf.org
World Bank. Independent Evaluation Group. World Bank (2013). Results and performance of the World Bank Group: Volume 1. Retrieved from World Bank website: http://siteresources.worldbank.org/PROJECTS/Resources/40940-1367867968385/2013_WorldBankforResults.pdf
The history of Kenya is like other African countries because they had ivory that European countries wanted. In the 19th century, Christian missionaries arrived from Europe, the Berlin Conference divided Africa into spheres of influence, and in 1890 Kenya was declared a British protectorate. In 1893, coffee was introduced to Kenya. In the 1920 Kenya was declared a British colony but from 1952-1956 a state of emergency was declared in response to the Mau Mau rebellion against the British. After the rebellion, in 1963, Kenya gained their independence from Britain. A year later Kenya became a republic and Wilson Kipurgut wins the first Olympic medal for ...
The gap between developed and underdeveloped is evident in today’s world. In naïve effort to bridge this gap a host of aid projects and development schemes are plotted onto less developed countries. But what is development really? James Ferguson attempts to explore this concept in his book “The Anti-Politics Machine: ‘Development’, Depoliticization and Bureaucratic Power in Lesotho”. The book is an extension of Ferguson’s PhD dissertation and was published in 1990 by Cambridge University Press. The book is interesting in that it seeks to give the reader a critical understanding and insight of the actual processes that take place when development projects are implemented. Using the small African country of Lesotho as his setting, Ferguson’s book is centre around the Thaba-Tseka Development Project. This book is likely interest a variety of audience, namely anthropologists, sociologists, economists, development practitioners or any lay person interested in the field of development.