Daily Archives: September 3, 2021

World Bank Group Borrowing


World Bank Group Borrowing

In its most basic sense, the word “world” simply denotes the totality of existent entities, which are all together, whether human or otherwise, and is to everything else what would be, is and was. There are various conceptions on the nature of this world, some more pessimistic than others. Still, there exists a common sense approach to it, and this is the subject of this article.

The nature of the world, as conceived by various philosophers, is a complex one; and there are many different views on how things could have come to be the way they are. Some philosophers conceive the world to be infinite, with infinite possibilities existing. They also believe that all possible worlds that we observe exist parallel to ours. Others believe that the world consists of two parallel worlds, although they can not both be parallel and neither does a world consisting of an infinite number of parallel worlds.

In light of the above, it appears that the nature of the world can be described in various ways, depending on the philosophical disposition of the person who is writing on it. For example, if an individual believes in the “pluralities” of worlds, then the world’s present consists of at least eight parallel worlds, and each world consists of an infinitude of things existing parallel to ours. However, if an individual believes that the world consists of an unending series of possibilities, then the world consists of an uncountable number of possibilities.

Developing nations often differ when it comes to their philosophy of the nature of the world. Many developing nations have experienced successful economic growths within their borders, allowing the people to enjoy greater material comforts. In fact, there are many third world countries that have experienced nothing but economic ruin, thanks in large part to the activities of world companies which are centered in the major cities of these developing nations. For this reason, many developing countries feel that they must become members of the developed world club and become members of the United Nations, as well.

In light of the above, some feel that the necessary conditions for World Bank membership are too stringent. Some argue that the World Bank should not be required to allow countries which are below the mid-income level or lower to be admitted to this lending organization, because such countries would not be able to meet the World Bank’s other purposes. According to these individuals, a perfect world order would mean that all humans live in a state of equality. With such a world order, and a society that has no poverty or lack of material possessions, it is claimed that the demand for goods, services and infrastructure would be met without the need for outside financing. Therefore, the World Bank should not be required to allow countries which are not in a position to meet these conditions to become members of the organization.

Yet another group which object to allowing the poor to become members of the World Bank, feel that the institution should not be required to finance the health issues of those who can afford to pay for their health care costs. The claim is that poor health causes poverty. Again, there are many who disagree with this assertion, citing statistics that indicate that income levels of poor people have risen, but then poor health causes poverty. Yet again, there are many who view these two arguments in their political context, and weigh the merits of the argument based on the facts. Still, those who agree that the poor do need to be helped by means of World Bank lending facilities feel that the institution’s mandate should apply to all people around the world, regardless of their income level.