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 Dom*****ican Republic

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

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

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

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