¶ … Nigeria and the impact of the International Monetary Fund (IMF) and World Bank, and the impacts of those institutions in the country. The IMF is "an organization of 188 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty" (IMF, 2013). The IMF works primarily with governments and financial institutions, including with central banks. The IMF has also become involved in cutting fuel subsidies, which then increases the price of fuel in the economy. This is intended as a measure to stop smuggling and bring market forces to bear but it also reduces the ability of many to get out of poverty as more of their budgets will be spent on fuel (Engdahl, 2012). The IMF has also become involved in guiding fiscal and monetary policy in many nations, Nigeria included. For example, it has recently warned the Nigerian government to adjust its budgets to account for a decline in oil industry revenues, noting that these declining revenues were likely to create greater difficult in reducing poverty (Ugwumadu, 2013). The IMF also makes assessments of economic infrastructure in order to provide better advice (UPI, 2013). The World Bank plays a more direct role in health care. Its mandate is to "end extreme poverty...
The World Bank provides financial and technical assistance to countries around the world. It provides low-interest loans, knowledge sharing and grants to developing countries (World Bank, 2013). The World Bank is involved in a number of projects in Nigeria, including infrastructure projects to improve agriculture, minimize the impacts of climate change and improve health care. One of the health care projects is to improve health care financing, a strategy that the Bank claims has improved family health outcomes in the three states in which it has been implemented.
Nigeria Market Entry Strategy Somebody's Mother's Chocolate Sauce, LLC Export opportunity for ginger and cocoa Somebody's Mother's Chocolate Sauce, LLC is manufacturer and processor of cocoa located in Houston, TX with gross annual sales of approximately $700,000 per year (Manta, 2010). The fluctuating costs of cocoa and the introduction of a new ginger-based product have prompted the company to seek export opportunities in Nigeria to vertically integrate its sources of cocoa and
International Human Resources Culture, Political, Economic and Social Contexts of Nigeria Under the Subject of International Human Resource Management. This paper is solely related to the International human resources practices, the uses of international human resources aspects as well as implementation within Nigeria. The paper has been explored several positive and negative aspects of Nigeria related to IHRM and whether it is feasible for global companies to operate and use the labor
Yet, Kay Weller speaks of geography as "concerned with spatial differentiation," which is to say that anyone who is going to understand the problem from a geographical perspective must look at Nigeria's human geography -- in other words, Nigeria's regions. Weller goes on to state that "ethnic geography is important to an overall understanding of Nigerian human geography. One definition of an ethnic group is that of a group of
They are used to the existing state-based system of commercial regulation, and there are several reasons why they might wish to maintain it. The advantage of using this system is that the MNCs know the system well, and the system uses effective tools for managing and currently provides them with significant leverage. They have proved adept at using leverage: globalization has forced firms to raise efficiency and adopt cost-minimization
Other than humans and the impact on their social and economic life, the oil companies also have a profound negative influence on the environment. The oil drilling and exploration process affect the environment at every stage. The first step is the identification of oil reserves in the region and assessing whether it can produce oil to cover the cost of drilling and exploration. The oil wells can be found inland
Globalization in the economic sense - economic, social and technological process that advocates a constant interdependence at a global level, supporting trade liberalization. International Monetary Fund (IMF) - an international financial organization that monitors the global financial flows and that offers financial assistance to Third World countries. African Festival of Arts and Culture (FESTAC) - cultural festival that promotes and sustains the revival of the Black cultural values and civilization. 1945 - the
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