Reading Comprehension (RC) | Re: For over a decade the most common policy advice given to developing

HiSneha2021 ,

The amount of foreign debt or the level of foreign debt has not been mentioned wrt the World Bank and/or the IMF. Although Broad and C believe that some countries have had "unsustainable" levels of foreign debt, we don't know whether the World Bank/IMF tacitly/directly supports/encourages/promotes this.

What we do know is (the relevant text is bolded):
"Despite these changes, the authors maintain, the World Bank and the International Monetary Fund—the foremost international development institutions—have continued to promote the NIC path as the way for heavily indebted developing countries toproceed" 

The  NICpath  is the path of exports. The World Bank/IMF has promoted this as the path forward. Broad and Cavanagh do not believe that this approach doesn't work. So the World Bank/IMF believes that the export-based approach is important (so the countries should emphasize exports more strongly, say 60/70/80%), while the other side believes the approach
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Statistics : Posted by ParamjitDasGMAT • on 28 May 2011, 00:24 • Replies 19 • Views 24296

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