Essay - Dominican Republic the Impact of International Debt on Poverty and...

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Dominican Republic

The Impact of International Debt on Poverty and Development in the Dominican *****

In Third World countries like the Dominican Republic, there can be no question that poverty is rampant ***** development is slow in manifesting. Unfortunately, pinpointing the precise causes of poverty is not as e*****y as *****serting it ***** the fault of the government, or that ***** is caused by unjust economic practices. Despite the ambiguity, it ***** possible to highlight some ***** the factors that influence the extent of poverty and the lack of ***** in Third World nations, especially the ***** Republic. In fact, it is apparent after ***** examination ***** the heavy burden of debt ***** nation carries ***** influential in the persistence of poverty in the country, especially when we consider that o*****rwise the ***** indicators suggest that ***** strength of the Republic's economy is improving. The purpose of this study is to trace the effect the debt has on poverty and development in the *****, the impact that ***** has on the choices available to its citizens, ***** what strategies could be implemented to improve the situation in the Dominican Republic.

In fact, ***** Dominican Republic has shown significant economic ********** in the past few decades, standing as one of only three Central American nations to have a per capita GDP that has surpassed levels recorded in the 1970s (Schipke). With such a prom**********g economic outlook, it might come as a shock to some observers that poverty is *****vasive and systemic in the Dominican Republic. It represents one of the most ***** issues facing the people ***** ***** nation, ***** those who live in rural areas. It is those individuals who ***** been particularly hard-hit ***** the rigors of poverty. One ***** ***** ***** troubling contributing *****ors that affects poverty in the nation is the high level of public debt that ***** government ***** *****curred from international organizations ***** the IMF or the World Bank. In all of ***** America, including ***** Dominican Republic (though interestingly excluding Guatemala) the average national debt stood at 47% of ***** ***** GDP at the end of ***** 2006 fiscal year (Schipke). With national debt at *****s this high, it is little wonder that poverty continues to dominate domestic ***** in the ***** Republic. The sheer amount ***** money it takes ***** pay th***** outstand*****g debt is ***** that could have been spent on social services and ***** programs to strengthen the economy and lift the impover*****hed out of their circumstances.

Of course, critics could point out, why should ***** expect that increased spending on ***** services would ***** any ***** on the level ***** ***** in ***** Dominican Republic? The reality is, however, that numerous studies—some specifically focused on the Dominican Republic—have demonstrated ***** there is a direct connection between certain aspects of society and poverty levels. For example, the "Dominican Republic Poverty Assessment," produced by the World *****, found that there are strong correlations ***** poverty and the following factors: access to healthcare


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