Bolivia, officially the Plurinational State of Bolivia, is a landlocked country located in western-central South America. The constitutional capital is Sucre, while the seat of government and executive capital is La Paz. The largest city and principal industrial center is Santa Cruz de la Sierra, located on the Llanos Orientales, a mostly flat region in the east of the country.
The economy of Haiti is a free market economy with low labor costs. Haiti's estimated population in 2018 was 11,439,646. The British newspaper The Economist wrote in 2010:
Long known as the poorest country in the Western hemisphere, Haiti has stumbled from one crisis to another since the Duvalier years.
The International Monetary Fund (IMF) is an international financial institution, headquartered in Washington, D.C., consisting of 190 countries "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1944, started on 27 December 1945, at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international monetary system. It now plays a central role in the management of balance of payments difficulties and international financial crises. Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money. As of 2016, the fund had XDR 477 billion.
The economy of Nicaragua is focused primarily on the agricultural sector. Nicaragua itself is the least developed country in Central America, and the second poorest in the Americas by nominal GDP. In recent years, under the administrations of Daniel Ortega, the Nicaraguan economy has expanded somewhat, following the Great Recession, when the country's economy actually contracted by 1.5%, due to decreased export demand in the American and Central American markets, lower commodity prices for key agricultural exports, and low remittance growth. The economy saw 4.5% growth in 2010 thanks to a recovery in export demand and growth in its tourism industry. Nicaragua's economy continues to post growth, with preliminary indicators showing the Nicaraguan economy growing an additional 5% in 2011. Consumer Price inflation have also curtailed since 2008, when Nicaragua's inflation rate hovered at 19.82%. In 2009 and 2010, the country posted lower inflation rates, 3.68% and 5.45%, respectively. Remittances are a major source of income, equivalent to 15% of the country's GDP, which originate primarily from Costa Rica, the United States, and European Union member states. Approximately one million Nicaraguans contribute to the remittance sector of the economy.
The economy of Nigeria is a middle-income, mixed economy and emerging market, with expanding manufacturing, financial, service, communications, technology and entertainment sectors. It is ranked as the 27th-largest economy in the world in terms of nominal GDP, and the 24th-largest in terms of purchasing power parity. Nigeria has the largest economy in Africa. The country's re-emergent manufacturing sector became the largest on the continent in 2013, and it produces a large proportion of goods and services for the region of West Africa. In addition, the debt-to-GDP ratio was 16.075% as of 2019.
The economy of Peru is an emerging, social market economy characterized by a high level of foreign trade and an upper middle income economy as classified by the World Bank. Peru has the forty-seventh largest economy in the world by total GDP and currently experiences a high human development index. The country was one of the world's fastest-growing economies in 2012, with a GDP growth rate of 6.3%. The economy was expected to increase 9.3% in 2021, in a rebound from the COVID-19 pandemic in Peru. Peru has signed a number of free trade agreements with its main trade partners. China became the nation's largest trading partner following the China–Peru Free Trade Agreement signed on April 28, 2009. Additional free trade agreements have been signed with the United States in 2006, Japan in 2011 and the European Union in 2012. Trade and industry are centralized in Lima while agricultural exports have led to regional development within the nation.
The economy of Senegal is driven by mining, construction, tourism, fishing and agriculture, which are the main sources of employment in rural areas, despite abundant natural resources in iron, zircon, gas, gold, phosphates, and numerous oil discoveries recently. Senegal's economy gains most of its foreign exchange from fish, phosphates, groundnuts, tourism, and services. As one of the dominant parts of the economy, the agricultural sector of Senegal is highly vulnerable to environmental conditions, such as variations in rainfall and climate change, and changes in world commodity prices.
The economy of Uruguay is characterized by an export-oriented agricultural sector and a well-educated workforce, along with high levels of social spending. After averaging growth of 5% annually during 1996–98, Uruguay's economy suffered a major downturn in 1999–2002, stemming largely from the spillover effects of the economic problems of its large neighbors, Argentina and Brazil. In 2001–02, Argentine citizens made massive withdrawals of dollars deposited in Uruguayan banks after bank deposits in Argentina were frozen, which led to a plunge in the Uruguayan peso, causing the 2002 Uruguay banking crisis.
The economy of Bolivia is the 95th-largest economy in the world in nominal terms and the 87th-largest economy in terms of purchasing power parity. Bolivia is classified by the World Bank to be a lower middle income country. With a Human Development Index of 0.703, it is ranked 114th.
Debt relief or debt cancellation is the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations.
The heavily indebted poor countries (HIPC) are a group of 39 developing countries with high levels of poverty and debt overhang which are eligible for special assistance from the International Monetary Fund (IMF) and the World Bank.
The debt of developing countries usually refers to the external debt incurred by governments of developing countries.
The Paris Club is a group of officials from major creditor countries whose role is to find co-ordinated and sustainable solutions to the payment difficulties experienced by debtor countries. As debtor countries undertake reforms to stabilize and restore their macroeconomic and financial situation, Paris Club creditors provide an appropriate debt treatment.
After World War II, Ethiopia began to receive economic development aid from the more affluent Western countries. Originally the United Kingdom was the primary source of this aid, but they withdrew in 1952, to be replaced by the United States. Between 1950 and 1970, one source estimated that Ethiopia received almost US$600 million in aid, $211.9 million from the US, $100 million from the Soviet Union and $121 million from the World Bank. Sweden trained the Imperial Bodyguard and India at one point contributed the majority of foreign-born schoolteachers in the Ethiopian educational system.
After the Haitians gained independence from French colonial rule in the Haitian Revolution of 1804, the French returned in 1825 and demanded that the newly independent country pay the French government and French slaveholders the modern equivalent of US$21 billion for claiming slaveowner's property and the land that they had turned into profitable sugar and coffee producing plantations. This independence debt was financed by French banks and the American Citibank, and finally paid off in 1947.
Bolivia's drinking water and sanitation coverage has greatly improved since 1990 due to a considerable increase in sectoral investment. However, the country continues to suffer from what happens to be the continent's lowest coverage levels and from low quality of services. Political and institutional instability have contributed to the weakening of the sector's institutions at the national and local levels. Two concessions to foreign private companies in two of the three largest cities—Cochabamba and La Paz/El Alto—were prematurely ended in 2000 and 2006 respectively. The country's second largest city, Santa Cruz de la Sierra, relatively successfully manages its own water and sanitation system by way of cooperatives. The government of Evo Morales intends to strengthen citizen participation within the sector. Increasing coverage requires a substantial increase of investment financing.
The electricity sector in Bolivia is dominated by the state-owned ENDE Corporation, although the private Bolivian Power Company is also a major producer of electricity. ENDE had been unbundled into generation, transmission and distribution and privatized in the 1990s, but most of the sector was re-nationalized in 2010 (generation) and 2012.
Poverty in South America is high in most countries. All of the countries in South America are greatly affected by poverty to some extent. From 1999 to 2010, poverty dropped from 43.8% to 31.8%. As of October 2019, the countries that have the highest rates of poverty per population in South America are Suriname, Bolivia, Guyana, and Venezuela. All of these countries are trying to reduce poverty, with varying degrees of effort and success. However, in recent years most South American countries have experienced political shifts. This has led to improvements in some countries. In general most South American economies have taken action I.E. stronger economic regulations, foreign direct investments and implementation of microeconomic policies to reduce poverty and improve the life quality of the people. Healthy investments in infrastructure including implementation of next gen transportation infrastructure, communications infrastructure, and housing is being implemented. There has also been increases by South American economies towards education funding, specifically in areas aimed at increasing workforce towards industry skilled labor in technology and manufacturing. International Labor Organization (ILO)s 2018 publication shows that in the last 5 years, Brazil, Chile, Colombia, and Peru have awarded the largest investments in public and specialized education resulting in increased skilled labor force.
The economy of Algeria expanded by 4% in 2014, up from 2.8% in 2013. Growth was driven mainly by the recovering oil and gas sector. Further economic expansion of 3.9% was forecast in 2015 and 4.1% in 2016.
Bolivia joined the IMF on December 27, 1945. Since 1945, Bolivia has cooperated with the IMF to achieve social reforms and economic growth. These efforts have involved strategies to reduce poverty, increase social equity, improve the education system and healthcare system, and expand social services to rural populations and underserved urban communities. Since 1984, Bolivia has been an active client of the fund, accessing 19 credit lines with the fund since joining.
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