How Underdeveloped Countries Rule Underdeveloped Countires
Part 1:
How developed countries “RULE” the underdeveloped countries….?
I being a citizen of an underdeveloped country and a member of a poor nation, have always wondered that why things in our country happen in a certain way? Why decisions and policies of our country are molded in a way which is unpopular among the people of our country? Why the developed countries like United States of America and United Kingdom have every right of interference in our country’s decision making? Why our politicians fear from the US embassy? And why telephone calls from the US and UK are so much important to our politicians and why their media is like “God” to us? On 16 of the march 2009, we had it straight from the US media that President Zardari, turned ‘soft’ only after the Secretary of State, Hillary Clinton, telephoned him. Sure enough the Pakistani president announced after the call that the government would move to ‘restore’ the judges removed by the military dictator, Pervez Musharraf.
Similarly since 1988 when Pakistan became the member of international monetary fund (IMF), every government which takes charge of the country, accepts a loan from the international monetary fund (IMF), this has been an important source to manage the financial problems of the country such as balance of payment deficits, stabilization of currency, rebuilding international reserves, managing liquidity problems etc. but this is not just a financial loan it comes up with an entire set of structural program which is known as “structural adjustment program (SAP)”. SAP is a set of conditions and policies which a country has to strictly follow in order maintain good terms with IMF, these conditions and policies include the close monitoring, reduction of government spending, revision in tax collection policies, change in policy/discount rate etc. The IMF loans greatly impact the economic indicators and bring change in the regulatory framework which have a direct impact on the economy of the country
How developed countries “RULE” the underdeveloped countries….?
I being a citizen of an underdeveloped country and a member of a poor nation, have always wondered that why things in our country happen in a certain way? Why decisions and policies of our country are molded in a way which is unpopular among the people of our country? Why the developed countries like United States of America and United Kingdom have every right of interference in our country’s decision making? Why our politicians fear from the US embassy? And why telephone calls from the US and UK are so much important to our politicians and why their media is like “God” to us? On 16 of the march 2009, we had it straight from the US media that President Zardari, turned ‘soft’ only after the Secretary of State, Hillary Clinton, telephoned him. Sure enough the Pakistani president announced after the call that the government would move to ‘restore’ the judges removed by the military dictator, Pervez Musharraf.
Similarly since 1988 when Pakistan became the member of international monetary fund (IMF), every government which takes charge of the country, accepts a loan from the international monetary fund (IMF), this has been an important source to manage the financial problems of the country such as balance of payment deficits, stabilization of currency, rebuilding international reserves, managing liquidity problems etc. but this is not just a financial loan it comes up with an entire set of structural program which is known as “structural adjustment program (SAP)”. SAP is a set of conditions and policies which a country has to strictly follow in order maintain good terms with IMF, these conditions and policies include the close monitoring, reduction of government spending, revision in tax collection policies, change in policy/discount rate etc. The IMF loans greatly impact the economic indicators and bring change in the regulatory framework which have a direct impact on the economy of the country