1) Read the following IELTS response and guess the statement the candidate responded to.Nowadays the poverty gap between countries is getting bigger and bigger.Banks and individuals should not be allowed to go around this principle and create trouble for themselves and others.
1) Read the following IELTS response and guess the statement the candidate responded to.Nowadays the poverty gap between countries is getting bigger and bigger.
In the US there was a major financial crisis in 2011 caused due to irresponsible lending by banks and resulting bad debts. The effects of this crisis were so significant that some banks went bankrupt.
People all over the world suffered as the US economic crisis impacted their economies.
In some ways, people think that it is the task of the richer states to help poorer countries with donations such as money food and providing education programmes.
In this essay I will discuss if wealthy nations should help poorer ones.
It is clear that in order to profit from loans banks often overlook the creditworthiness of their clients.
Many people find it very difficult to repay the loans or credit card debt because of very high interest rates and also the amount of money that they were lent.Indeed it is frequently necessary to rely on social organisations, like the Red Cross, which can give help directly to the poorest people.The second point is that the problems of the most affected poorest states can’t be solved completely by donations.Generally, banks lend a certain amount which may be a few times an individual’s annual income, but if the loan is long term like mortgages and very high credit limits on credit cards, it is essential that banks make it easier for the individuals to repay by charging less interest.Regulators must make sure that banks do not lend an amount equivalent to more than one year’s income.There are several elements this type of essay needs to contain (i-iv). ISSUE Nowadays the poverty gap between countries is getting bigger and bigger. In this case, you may hear someone talking about prices, and you should write down the correct answer – for example, £15. It is probably most common in the listening exam, where it often appears in section 1. In any case, money is important in our daily lives and so it is also a topic that may come up in the IELTS exam. Money could theoretically appear in any part of the IELTS exam.For all these reasons, it is necessary that people should not be able to borrow huge amounts of money easily.The simple principle of lending only what can be comfortably repaid should become the law.