what does NIEO aims for?
Answers
Answer:
The crucial aim of the NIEO is to promote economic development among the poor countries through self- help and South-South co- operation. The NIEO intends to deal with the major problems of the South, such as balance of payments disequilibrium, debt crisis, exchange scarcity etc.
Explanation:
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In essence, the NIEO aims at social justice among the trading
countries of the world. It seeks restructuring of existing institutions
and forming new organisations to regulate the flow of trade,
technology, capital funds in the common interest of the world’s global
economy and due benefits in favour of the LDCs. It has the spirit of a
‘world without borders.’
Its aim is to provide poor nations increased participation and have
their say in the decision-making processes in international affairs.
Among to other objectives, the NIEO envisages the establishment of a
new international currency the implementation of SDR aid linkage,
the increased stabilisation of international floating exchange system
and the use of IMF funds as interest subsidy on loans to the poorest
developing countries.
The crucial aim of the NIEO is to promote economic development
among the poor countries through self- help and South-South cooperation.
The NIEO intends to deal with the major problems of the South, such
as balance of payments disequilibrium, debt crisis, exchange scarcity
etc.
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