order paper  
more phones
Academic writing services  
Custom written essay Book report Research paper Dissertation Resume and CV Editing and proofreading  
main menu
By ordering custom paper you get
  • 24/7 Support
  • Over 100 professional US Writers
  • 300 words per page
  • Flexible discount system
  • FREE revision (within 2 days)
  • Anti-Plagiarism Software Check
we accept
sample essays
Accounting Essays
Admission Essays
Analysis Essays
Art Essays
Biography Essays
Biology Essays
Book Review Essays
Business Essays
Case Studies Essays
Cause and Effect Essays
Character Analysis Essays
Communication Essays
Communication and Media Essays
Compute Technologies Essays
Consideration Essays
Controversial Essays
Description Essays
Economics Essays
Education Essays
Evaluation Essays
Explanation Essays
History Essays
Job Essays
Law Essays
Management Essays
Medicine Essays
Music Essays
Personal Essays
Personal Experience Essays
Persuasive Essays
Persuasive Speech Essays
Philosophy Essays
Political science Essays
Politics Essays
Proposal Essays
Psychology Essays
Reflective Essays
Religion Essays
Research Essays
Response Essays
School Essays
Science Essays
Sociology Essays
Technology Essays
World Literature Essays
Tragedy in the Congo essay
← Forecasting with IndicesThe American Indian Wilderness →

Tragedy in the Congo. Custom Tragedy in the Congo Essay Writing Service || Tragedy in the Congo Essay samples, help

The Tragedy of the Congo, presents a startling revelation of the economic woes that befell Congo after its independence making it one of the most indebted countries in Africa with the debts of approximately $14.6 billion by 1997. The articles argue that Congo, a central African nation, has significant deposit of natural resources such as copper, which would have made the country the richest nation in Africa. However, a series of civil wars that began in 1958 reduced the country into a war zone with the Dictator Mobutu Sese Seko taking over the leadership of Congo. According to the article, the reign of Mobuto reduced Congo’s opportunity of realizing an exemplary gross nation product of $1400 in 1997 to a mere $100 in 1958. Because of the poor performance of Congo’s economy, the local currency was almost worthless, and barter trade was a common practice. With emphasis on the causes of Congo’s economic turmoil, the article notes that the International Monetary Fund and World Bank were the key players that aggravated the economic challenges of Congo. In 1967, IMF’s intervention in Congo was a cause of a blessing and a curse alike. IMF approved low interest loans to Mobutu’s government amounting to $27 million. IMF’s aim was to stabilize Congo, and it further devalued the local currency. In addition, the IMF installed western officials in Congo’s central bank not to mentioning urging for increase of taxes. Essentially, the article blames IMF for giving more aid to Congo despite massive corruption issues that saw the president and his cronies accumulate wealth. As the article describes, Congo stopped repaying the loans, and IMF cancelled its membership.

a)      Q1. Reinstatement of Zaire as an IMF member

There is a need for IMF to reinstate Zaire as an IMF member, given the change of leadership in Zaire, and the fact that the IMF played a role in the economic decline of Zaire. IMF reached the decision to terminate Zaire’s member after it stopped repaying its loans, but Zaire can correct this anomaly if it becomes a member of the IMF. By allowing Zaire to join the IMF, it is likely that Zaire will access more loans and use it to alleviate the economic stresses it is facing, and this would undoubtedly make it cooperate with the IMF. Essentially, Zaire requires loans to improve its GNP and overall economic performance.

b)      Q2. Cancellation of Zaire’s debt

The IMF and other donors should cancel Zaire’s because that nation cannot bear it, and the debt is likely to cause her to impose adverse economic measures that can hurt its economy. Whereas Zaire is responsible for offsetting its debt, the current debts have acute negative effect on Zaire’s economy. First, such a huge, outstanding debt will force Zaire to impose severe measures such as hiking taxes, and this can affect the economy badly. In addition, Zaire’s economy is not strong, and a huge debt can deprive the country of funds to invest in other areas of economy, as the government will be more concerned in paying the debt than improving the economy. These reasons converge and point on why the donor community must cancel Zaire’s debts and give her a new bill of health that may stimulate impressive economic improvements.

c)      Q3.Should IMF loans be conditional

The case of Congo illustrates the dangers of unconditional loans, which reinforce the argument that IMF’s loans should be conditional and pegged on a nation’s ability to comply with IMF directives. In some nations, corruptions and other negative forces contribute to economic woes, and giving these nations unconditional loans can fuel inflation and increase the nation’s debt. Nonetheless, the IMF can use conditions to approve loans as a measure to ensure that recipients use the loans appropriately. Indeed, a measure like installing western official can help promote accountability in the use of funds among recipient of IMF’s loans.

Tragedy in the Congo. Custom Tragedy in the Congo Essay Writing Service || Tragedy in the Congo Essay samples, help

Order Now
Order nowhesitating

Related essays

  1. The American Indian Wilderness
  2. Correlation
  3. Forecasting with Indices
  4. The Fascination with Mars and Martians is prevalent throughout Science Fiction

order now

Order now
why choose us
96% of satisfied returning customers
24/7 customer support
A wide range of services
Up-to-date sources
100% privacy guaranteed
MA/PhD writers
Custom written papers only
Free plagiarism report
Free revision (within 2 days)
Free extras by your request
Direct communication with a writer
Are your writers qualified for the custom writing?
How quick can my order be accomplished?
Is it legal to buy custom essays, term papers or book reports from your company?
Are essays offered by your company truly custom-written?
Is it safe to buy from SupremeEssays.com?
How secure is the payment system of your company?
Can I submit custom essays or term papers done by your company as my own?
How can I contact your company if I've got problems with my ordered paper?

Finally, I've found the real custom writing service . My grades are saying "Thank you, it's been a pleasure to work with you."

Jamal, South Africa

I can't believe you finished my essay under such a short deadline! You saved me from a disaster once again. You guys deliver exactly what you promise. I'll be back. That's for sure!

William H , Kansas, US

contact us
Toll free for US & Canada only. International callers are charged for outgoing calls.

Our phone numbers:
Toll free 1(877)801-5587
Call now 1(702)418-3797
SupremeEssays.com provides custom term paper writing/rewriting services inclusive of research material for assistance purposes only. The term papers should be used with proper reference and are not meant to replace actual assignments.

Get 15% off your first custom essay order

Order now

from $12.99/PAGE