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Two Different Countries In Two Different Continents. One Of Them

1340 words - 5 pages

Two different countries in two different continents. One of them is considered as Third World Country, the third world countries are generally undeveloped countries. Congo, is one of these countries which can not develop itself for years. The other one of these two countries, Turkey. It is located at the centre of three old continents which are Europe, Asia, and Africa. As it is seen it has geopolitical importance because of its location. Although they are located in different region and different continent in the world these two countries both have the same problems. These two countries are members of International Money Fund. However there are lots of similarities between Turkey and Congo, these countries are not exactly the same countries. Both of them are taking financial aid from this international institution to develop and overcome some economic problems in their countries such as big economic crises. There are some ideas about IMF financial aid some people are against some are not, but generally getting financial aid from these institutions such as IMF, is useful for the developing countries like Turkey and Congo.The International Money Fund is an international organization of 184 member countries. It was established to supply international monetary cooperation, exchange stability, and orderly exchange arrangements; to encourage economic growth and high levels of employment; and to provide temporary financial help to countries to help ease balance of payments adjustment. The International Money Fund helps lots of countries all over the world to develop their economy and to make the standards of living higher. IMF helps to the countries by three ways which are; reviewing and monitoring national and global economic and financial developments and advising members on their economic policies; lending them hard currencies to support adjustment and reform policies designed to correct balance of payments problems and promote sustainable growth; and offering a wide range of technical assistance, as well as training for government and central bank officials, in its areas of expertise (About The IMF,2002). Meanwhile Congo and Turkey are two countries which take financial aid from IMF. Congo ,which is an African country, they gave fragile agreements with IMF in December 1998, after their economy progress was badly hurt. Likewise, Turkey has signed seventeen assignments with IMF since 1961 There are some similarities between Turkey's and Congo's economy like their crises and bad economic situations; also these two countries are getting financial aid from IMF.Turkey's economy was really bad during the second World War, in these years the big percentage of Turkey's economy was agricultural revenue. After that Turkey did a big attack and changed its policies in economy and in the early 1980s industry and services became important in the economy. There was a great development in economy nevertheless, Turkey was able to achieve only a growth rate of 6%...

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