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ISSN: 2376-0214
Journal of Biodiversity, Bioprospecting and Development
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Poverty Reduction Strategies and MDGS: A Diverse Scenario in the Developing Countries

Mohammad Nazrul Islam* and Abu Kayes Mahmud Nur Hossain

Hamdard University Bangladesh, Dhaka, Bangladesh.

*Corresponding Author:
Mohammad Nazrul Islam
Hamdard University Bangladesh
Dhaka, Bangladesh
Tel: +880 1776-439000
E-mail: dr_sayemnazrul@yahoo.com

Received Date: 18 June, 2016; Accepted Date: 03 August, 2016; Published Date: 10 August, 2016

Citation: Islam MN, Hossain AKMN (2016) Poverty Reduction Strategies and MDGS: A Diverse Scenario in the Developing Countries. J Biodivers Biopros Dev 3:160. doi:10.4172/2376-0214.1000160

Copyright: © 2016 Islam MN, et al. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.

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Keywords

Poverty reduction strategies; Developing nations; Budgetary constraints; Social securities

Introduction

To write commentary on poverty reduction strategies of the developing countries was the hidden thirst of last decades of my life. When I had studied on post graduate diploma in health economics under the University of Dhaka on different macroeconomic and microeconomic theories and strategies were inspired me to write something pragmatic on poverty reduction strategies of the developing countries. Attempt and reattempt were taken but it was difficult for me to conclude the article several times. As young scientists of the developing countries like Bangladesh, we are trying to give attention to the neglected or hidden factors which are continuously enrolled in the complex cycle of poverty and the vicious cycle of poverty (VCP). For these very reasons, we have amalgamated the multi-country strategies of PRSP (Poverty Reduction Strategy programme) and concreted the some prospective suggestions which would be helpful for the working personals, committee and the nation’s intrinsically working to break the vicious cycle poverty (VCP) and set up a dream to get the poverty free world within the expected time frame [1].

Scenarios of Strategies Adapted to the Multi-countries of the World under the One Umbrella of IMF

Afghan PRSP

We have gone through the PRSP of Afghanistan (IMF-PRS, 2008) in where their government were taken initiative to develop a diversified macroeconomic structure, social justice, social securities, good governance, human rights, socio-economic development, utilization of natural resources, manpower, development of education, health, agriculture, decentralize the services, strong monitoring and evaluation and budgetary management under the main heading of circle of justice. They have adopted the IMF-national committee revised strategic framework to combat the poverty by attaining special consideration for equitable economic growth. They suggested that government is needed to give special emphasis on infrastructural development (road, irrigation, sanitation and safe drinking water), institutional and human capacity building (public and private sectors), protecting rights and social protection for the poor, create an enabling environment for SME (Small and Medium Entrepreneur). Their PRSP are based on three pillars, security, governance, rules of law and human rights and socioeconomic development and social security policy. It has been observed that budgetary constraints, regional cooperation, political instability and ensure the equitable distribution of resources are great challenges to adopt the PRS. It is needed to give attention above mentioned sections to achieve the desire goals of MDGs and ruled out the country from the vicious cycle of poverty [2].

Eleven-PRSPs

After that, we have keenly studied the PRSP of Albania, Armenia, Azerbaijan, Bangladesh, Benin, Bhutan, Nepal, Ghana, Maldives, Uganda and India of Afro-asian countries. Most of the strategies are common but country specific strategies are also remarkably highlighted by the expert panel of IMF and supportive agencies. The experts of IMF and supportive agencies were prepared prospective strategies which are affordable, feasible and accessible for the people of their countries. We think that some trends and issues can be needed to emphasis for elimination of the drastic effect of poverty.

In Azerbaijan (IMF-PRS, 2004), it was speculated that the strategies under four Wh-questions. It was very specific and minimum conflicted strategies than other plan of developing countries. They were given emphasis on lack of opportunities, low capabilities, poverty determining factors, economic growth, enabling environment of IGP(Income Generating Program), economic stability, improvement of the quality, equity of access to basic health and education services, improve implied infrastructure, reform of the existing system of social protection, improve the living condition and opportunities to the refugees and IDP populations by regional cooperation, coordination and collaboration. We are very pleased to study the strategies. It is very specific and fruitful strategies for the Azerbaijan. By adopting the following recommendations like create an opportunity of work, ensure human development including education and health care to the primary to tertiary level, minimize the poverty gap, food for work or work for food programme, the country can be swiped out the chain of poverty.

As a Bangladeshi nationals, we have given highest attention to the PRS (IMF-PRS, 2014) prepared by IMF and experts of Bangladesh. We would like to thanks to all the experts governments, leaders and politicians for their highest contribution to reduce the poverty of Bangladesh. Their contributions reflected that Bangladesh becomes a middle income countries soon and successfully overcome the vicious cycle of poverty or hand to mouth down trodden family. Political stability and politician commitment are the prime factors to rule out the poverty in Bangladesh. Now-a-days, Bangladesh becomes a role model welfare country to fight the poverty for developing era. Although a lot of challenges are needed to overcome to declare the winner of poverty minimizing race. Macroeconomic progress, sectorial growth, human resource development, social inclusion and social protection, especially women and marginal population, climate change adaptation, disaster management, result based monitoring and evaluations, the gap between commitment and disbursement are remaining major obstacles to fight, to win and break the cycle of poverty in Bangladesh. Microcredit (social finance or the socio-capital for the lower, middle class and have-nots for survival as analysed in MDGs) is one of the cornerstone step to fight poverty for the disadvantages, refugees, pro-poor, ultra poor or have-nots communities [3]. One study (PRS in Developing Asia) revealed that PPRSp does not focus on the extreme poor and marginalized segments in its operational areas because less than 25% of the total credit was allocated for three extreme classes of the poor, while remaining 75% credit was disburse among the vulnerable poor. It is utmost needed to stable the political situation, follow the cultural modulations and social norms, increase the skilled and educated manpower, job creation and income generating programme for pro-poor, poor, marginalized poor and for all the have-nots to ensure food, cloth, education health care delivery system and prepare to tackle the food crisis, security and establish social justice and securities are prospective steps to break the chain of poverty and become a sustainable and emerging developed country in the world as a part of MDGs.

Benin and Bhutan

We have keenly studied the Benin PRS (poverty reduction strategies) (IMF-PRS, 2011) and Bhutan (IMF-PRS, 2004) summarized that the consolidation of the macroeconomic framework, critical factor analysis of poverty reduction, stimulation of PPP (Public Private Partnership), economic diversities of develop the transportation, energy, ICT (Information and Communication Technology), water and sanitation, education, health-hygiene, food and nutrition, human development, culture and heritage, equitable development of governance and environmental conservation are main factors to adopt the PRS in Benin or Bhutan. Attention should be given by the government for infrastructural expansion, sound macroeconomic policy, and medium term expenditure framework. By reducing the poverty, vulnerability and inequity, Benin and Bhutan would become a poverty free country in the world.

Nepal PRSP (IMF-PRS, 2007) stipulated that they have highest attention to afforesting, rehabilitation, community participation, reduce conflict, harmonization of resources to combat the poverty. But natural disaster, lack of coordination, in and out, systematic use of properties monitoring and evaluation are great challenges to fight and win against poverty. To ensure sustainable macroeconomic and microeconomic strategies can change the pace and breakthrough the point of poverty of Nepal.

Ghana (IMF-PRS, 2007), Maldives and Uganda (2014) are also facing same challenges to overcome the poverty. Over reliance on tourism, extreme dependency on imported fuel, disparities in income and access to infrastructure and services, high level of female and youth unemployment, drug abuse, eroding moral values, social norms, fragility of reef ecosystem, vulnerability of low lying islands, small, remote and wide dispersion of islands and communication are still big challenges to fight against poverty. International and national financial assistance are required to take positive initiative to break the enrolling cycle of poverty.

Prospective recommendations to break the chain of poverty for Afro-Asian countries:

• Adopt multidimensional approach.

• Follow a comprehensive development framework.

• Ensure social securities (old age, disability, autistics and impairment and survival benefits, sickness, work injury benefit, unemployment and family benefits) insurance and social assistance.

• Establish the family oriented policies and intergenerational solidarity.

• Decrease fertility level.

• Accessible scheme for aging population.

• Eradication of Monga (cash for work, emergency credit, consumption of loan, remittance service and coping skills and resource for future).

• Cope up the country driven, result oriented long term programme.

• Ensure evidence based social policy and,

• Sufficient budgetary funds, national and international commitment of leaders under one umbrella and develop the sustainable and unique tools for breaking the cycle of poverty and set up a poverty free world.

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