The united States of America, the European countries
and the world are facing and unprecedented financial crisis. Big banks and financial institutions are collapsing one after another. The world Bank (WB) and the International Monetary Fund (IMF) pressurize developing reforms. Both the institutions spend a lot of money to implement their suggestions But what is the result? It is difficult to understand how the banking system in the developed countries is crumbling. The US government had to pump billions to bail out the banks, insurance, companies, and financial institutions.
The marker economy is not working. Why should the developing countries listen to the WB and IMF when the prescriptions of the developed countries are not working in their own countries? These two 'multinational' institutions have done great harm to the world. The US has spent billions of dollars on unwanted wars in Iraq and Afghanistan. The US has spent billion of dollars of tax payers' money for destructive purpose. Do the US people endorse such unjust work? Do they approve such wastage of the tax payers' money? Who will fund the everything in the US. Americans now earn less and they can afford less. Many have lost their jobs.

The US, a traditional donor of the poor and developing
countries, Will no able to help them in a big way. Due to less contribution from the US, the capacity of the WB and IMF to help the developing countries will shrink. The fall in employment and production could take long to solve. How far the prescriptions of the world bank and IMF consulting teams to switch over to private sector banking provide good results to Bangladesh and other countries is an open question.

All of the following statements about the present state of the US economy is true except-

Created: 8 months ago | Updated: 8 months ago

Updated: 8 months ago

• ক
  Billions of the dollars are being invested in preventing the failures of financial institutions
• খ
  Open market policy is not working well
• গ
  Billions of dollars are being spent for wasteful and destructive purposes.
• ঘ
  Gross domestic product has increased.
• ঙ
  Unemployment rate has increased.

DU DU C Unit English 2008

ব্যাখ্যা

52

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