Third World Debt?

Question

CAN ANY ONE RECOMMEND A PRAGMATIC AND EFFECTIVE WAY OF ELIMINATING/ SOLVING THE GRAVE PROBLEM OF DEBT THAT THE THIRD WORLD OWES TO THE INTERNATIONAL FINANCIAL INSTITUTIONS?

REFERENCES TO ARTICLES, BOOKS AND STATISTICAL DATA WILL BE ACKNOWLEDGED.

Answer 1

No one in the western world is interested in removing or even reducing the debt. Debt is the new form of slavery. The world bank and the IMF were founded in order to facilitate this. We all know from history that slavery is a huge factor in cheap production. In earlier times we got the slaves into our country and made them work. The ugly side effects were hangings, civil war and the entire rat's tail that followed. People in the 1930's found that this is unacceptable and understood that they had to devise a way to have slaves, but without having them in our country. So the world bank and the IMF were invented to keep foreign countries at debt at all times. Loans are given to countries without expecting them to pay it back ever. Then loans are being re-negotiated, the terms of the loans stretched and new loans given so the countries can pay the interest. The interest is all that matters. Because the premium will cause interest over and over and over again. Sooner or later the country in debt will be unable to pay and will have to sell off assets such as water or other natural resources or surrender control to communication and power grids. That's when it becomes juicy for the banks that give those loans. Once those assets are in their hands they can squeeze the population at will and get their money worth hundred fold over. That is the exact point the new breed of slaves are born. This time the chains are not made of steel, but of debt.

Answer 2

There has to be some level of debt forgiveness. I understand that Mocambique for example pays something like 60% of its GDP to the world bank in interest alone.
This ensures that there is no money to build schools, hospitals, roads etc.
In turn this means that many children never get to school and those that do receive a very poor basic education. It is a debt trap with no way out.
I believe Mocambique is or was until recently, officially listed by the UN as the world's poorest country.
Of course debt is not the only problem. They could do a lot for themselves if they decided to actually work their very fertile land. Unfortunately there are to many who are more willing to pick up an AK 47 than a spade

Answer 3

Abolish the interest on the debt, at least.
The developed First world has a history of colonising, exploiting, and enslaving the Third world, from the time of the first crusades to the fall of Saigon. If the debt was written off it would serve as acompensation for this colonial history (which maybe left them in need of the money in the first place)

Answer 4

Third world debt is always being written off by the world bank. It's only fair that we do this to enable them to thrive, only it hapens too often with the wrong administration within a country. You'll find they consist of the wealthy who control the country with an army that is lacking in humanity. While they thrive, the people suffer both through poverty and massacre, often by their own people, or another tribe. Ethnic cleansing or a way to lessen the poor people by pretending that it was a civil war, when their own army did it.

I'd love to see a united world army who would kick their *** and give the people back their lives. I hate that we fund these leaders with fine whiskey and cuban cigars, while their people starve. It's hypocrisy and ignorance. I resent it.

Answer 5

Yes. Remove The World Powers. Everything Will Be Fine Then

Answer 6

i think of it truly is because of the fact the situation of humanity floor. As maximum of those 0.33 international international locations have the severe by no potential ending socioeconomic issues and in easy terms fewer have organic materials, the lenders do no longer desire to speculate in mineral or oil exploration and create jobs and bring in enormous money. a lot of those 0.33 international international locations in basic terms safeguard residing by potential of hassle-free agriculture or named as banana republics of inexpensive labour in production. some African international locations as quickly as got here appropriate to the terrible genocide that ended up with tragic memories. i think of the international government would desire to grant extra significant help to the debted 0.33 international for greater coaching at college point and potential preparation courses and enable them to extra healthy into the distant places-invested industry. Why would desire to international government forgive the 0.33 international debt? What the lenders can get? Blood?

Answer 7

Give the power to the honkey ! Just look at countries like Rhodesia, when the honkey was there it was rich man, kick the honkey out it's one of the poorest countries in the world now.Get your history books out man, that's just one country,that's gone down the nick.

Answer 8

the third world debt should be dropped they are poor enough without having to pay loads back to rich countries and making themselves worse off

Answer 9

stop western governments subsidising their farmers thus create an even playing field for all agriculture so the third world can compete

Answer 10

cancel all world dept and dont lend to these countries again just send tools and say get on with it