In this world of economic inequalities the rich get richer and the poor get poorer, be it individuals or states. International monetary organizations like the World Bank and IMF give loans to poor countries but these loans are not invested in activities that lead to growth and development. Most of the time, they simply lead to more loans.
If the World Bank and IMF really care about the development of poorer countries, they should offer lower rates for loans that are invested in infrastructure, education, healthcare, environment and other activities that lead to long-term growth and sustainable development.
Anwar Sayab Khan
Peshawar
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