Syndicate content

Add new comment

Submitted by AmirDewani on
This is a good idea toward discussing the possible solutions to eradicate poverty. Ever since its creation the World Bank has been running a poverty eradication program. But, instead of eradicating poverty, there is significant increase, and all the money being spent on organizing the process has gone to the drains. So, the first thing is the accountability of this world organization, and then finding the causes of its failure. Poverty is a world wide phenomenon, but in the underdeveloped world or the third-world countries, poverty is at a very high level. This is with reference to the countries in Africa and Asia in particular. And the main factors are(i) corruption, (ii) wastage-leakage and pilferage of precious resources (III) want of quality leadership, (IV) lack of education and (V) the failure to provide infrastructural facilities; especially transportation and communication for the villagers to bring their products to the markets. Unless these problems are addressed fairly and squarely, it won't be possible to eradicate poverty. The other problems relate to world wide tax evasion by the super rich individuals and big corporations. They conveniently manage to move billions of dollars in the well known tax havens of the world by way of money laundering, smuggling and stealing. In this connection the G-20 group of countries have often discussed the woes but they seem to be not so serious. The world Bank needs to evolve a mechanism in coordination with the organizations like the OECD etc to eradicate the criminal campaign of the tax evaders so that safety nets could be provided to the poor in different countries.