Globalization and its Discontents paper Essay Example | Topics and Well Written Essays - 750 words

Globalization and its Discontents paper - Essay ExampleThe policies devised by them are a result of extend discussions between the economists. The policies that have been devised by the world-wide Monetary Fund have helped many countries to overcome the conundrum of monetary crisis. In order to avoid a financial drought the hoidenish has to avoid solely sorts of financial jobs that may come up. The solid ground has to control the flow of money internally former(a)wise the financial crisis cigarette non be avoided (IMF). If the international capital flow is non maintained properly, economic stability in a sphere cannot be achieved. The price in the country cannot be stabilized and hence the financial policies knowing to overcome the crisis cannot be implemented properly. This shows that if a country has to prosper in terms of finance and economics it has to improve its structure internally and then ask for help from the outside sources. Hence if a country is in the devel oping stage and is not practicing its economic policies properly, the International Monetary Fund also cannot be of much help. One example of such a country is Botswana which improved itself internally and prospered than any other country in Africa.When Botswana got independence it was suffering from a severe financial crisis. And it was of utmost importance to embrace the issue properly. Botswana was rich of agriculture and diamonds but lacked the resources to make use of both these assets. The assets in the country did not prove to be lethal for them as they were used in the right way. This was quite beneficial for the country to achieve stable economy. The political leaders of Botswana believed in national integrity and worked towards the betterment of the call down. And thus Botswana did not approach the International Monetary Funds for any kind of aid. But they received advices and suggestions from the outsiders who belonged to public or private institutions. These advisories helped in devising a future plan for the country. They laid out plans which involved the solid structure of the country and not only one department. The advisors selected by the affirm were properly interviewed and then hired. This showed that the state was being controlled properly and each and every individual in the state had the spirit to move the country towards prosperity. For e.g. the deputy governor who was referred to by the IMF was only hired by the state when he was interviewed. This clearly illustrated that the state was internally stable and was working towards the betterment of the state. The state of Botswana maintained a good relationship with the International Monetary Funds through out its history. The advisories of International Monetary Funds helped the state of Botswana in tackling the problems of economics in the state. And these advisories were highly honored by the state of Botswana. Botswana was not helped properly by the IMF when it faced the problem of liquidity. But this was because of the requirements of the IMF. An economic policy should be devised before asking for any financial help from the IMF. This broadly is a correct way of handling the situation as the IMF provides support so that the state can prosper further. However even then the state of Botswana was strong enough to pass through these problems. The reserves which the state of Botswana had from the income generated from its natural assets