Third-World Debt and Poor
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The time has passed when we can ignore the poverty of other nations, treating it as “their problem.” The scale of the issues of the world’s poor extends its impact to all countries. It is in the best interests of everyone, including the worldwide banking community, to find solutions.
As indicated in the column, the World Bank and the IMF are in a position to reorder priorities and dramatically change policies which could benefit, ultimately, not only the financially disenfranchised but the financial institutions as well. Structural adjustments which focus on reduction of poverty lead to stability and a quality of life which enhances business opportunities while it upgrades global conditions in every sector. Everyone wins!
D.R. CLIFTON
Carpinteria
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