Monday, December 27, 2010

MONEY FLOWS

MONEY FLOWS

Foreign investment in the developing world during the 1970s led to a global financial crisis in the 1980s ,when many countries were unable to meet their debt repayments . The international monetary fund was forced to reschedule the debts and in some cases ,write them off completely . Within the developing world , austerity programs have been inhitiated to cope with the debt ,leading in turn to high unemployment and galloping inflation . In many parts of africa ,stricken economies are now dependent on international aid .

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