"A banana republic is the nation that is politically misgoverned, full of repression and it's economy turned dismal leading to only rich, mighty and dominant ruling class exploiting its natural limited renounces leading to public control through repression and violation of human rights," stated a political science expert in Jaipur while interacting with his few friends during morning walk.
The interaction with the expert led to the following three characteristics of a Banana Republic - the term coined by American writer O. Henry.
Country being run as a 'private commercial enterprise' for the 'exclusive profit' of the rich and the ruler
Despite excessive privatization, debts being made financial responsibility of the public treasury through collected taxes and ponzy developmental schemes
The poor becoming poorer with joblessness, constant price-rise and devalued currency along with no international development credit in sight
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