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 Republic

***** 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 ***** is not as e*****y as asserting it ***** the fault of the government, or that it is caused by unjust economic practices. Despite the ambiguity, it ***** possible to highlight some ***** the factors ***** influence the extent of poverty and the lack ***** development in Third ***** nations, especially the ***** Republic. In fact, it is apparent after ***** examination that ***** heavy burden of debt the nation carries is influential in the pers*****tence of poverty in the country, especially when we consider that o*****rwise the economic indicators suggest that the strength of the *****'s economy is improving. The purpose of this study is to trace the effect the ***** has on ***** ***** development in the nation, the impact that ***** has on the choices available to its citizens, and what strategies could ***** implemented to improve the situation ***** the Dominican Republic.

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

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

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