2006-11-26 14:08:01 · 17 answers · asked by Holly 1 in Politics & Government ➔ Other - Politics & Government
Is it true that by transferring scarce resources to corrupt governments with proven track records of misusing aid, debt forgiveness might only aggravate poverty among the world's most vulnerable populations? (Easterly, Jubilee 2000)
2006-11-26 14:29:51 · update #1
No...Debt is debt, and it should ALWAYS be repaid.
2006-11-26 14:10:50 · answer #1 · answered by Anonymous · 1⤊ 0⤋
No, no, no, no, no.....It's not the country that would be forgiving the debt, but the taxpayers who's money was used to fund the poor country in the first place. Will your bank or landlord forgive your debt for you??? We forgave all kinds of debt for the countries we rebuilt after WW2, and now they all have booming economies, and I still don't see any money comming back to us. What we have to do is collect our debts, and stop letting the rest of the world walk over us. Who will cover our debts if we become a 'poor' country? Bono????? I don't think so.
2006-11-26 14:12:13 · answer #2 · answered by FRANKFUSS 6 · 1⤊ 0⤋
Bono from U2 had the same idea about wiping the slate clean. After talking to many of the world leaders (he put in more effort than anyone ever has), he realized that it was much too complicated to do this. I believe it, you should too.
If someone owed me a bunch of money, it would take alot to get me to say "don't worry about paying me back," and I'm not as greedy as the least greedy politician.
2006-11-26 14:14:57 · answer #3 · answered by missanniesue 2 · 1⤊ 0⤋
No, it would completely distort the global economy, and devalue the rich country's currencies. It would also inflate the poor countries currencies and in the end make them crash. Also, the rich countries would stop letting the other countries borrow money if they knew they weren't going to be paid back. If some feckless relative of yours kept borrowing money from you and you never paid them back...would you still lend them money? As you see it's not just as simple as charity...In global terms, nothing ever is.
2006-11-26 14:17:02 · answer #4 · answered by Anonymous · 1⤊ 0⤋
It depends on the economic relationship of the countries. If the richer country is selling imports, it may be wise to forgive the debt.
The united states forgave debt after WW2 and it helped our economy.
2006-11-26 14:17:40 · answer #5 · answered by burnsk8er2000 3 · 0⤊ 1⤋
If they do, I doubt that any national legislature will EVER approve loans to poor countries in the future. Taxpayers would throw then out of office if they did.
2006-11-26 14:13:37 · answer #6 · answered by yupchagee 7 · 1⤊ 0⤋
No. Forgiving debt only makes more dependents. It is bad enough that countries have no economy.
I already have to finance welfare for Americans.
2006-11-26 14:13:29 · answer #7 · answered by GOPneedsarealconservative 4 · 2⤊ 0⤋
Absolutely! I think the alternative is World War 3. In Africa people are starving, yet they are exporting their food in order to pay off the interest on their debts to the industrialized nations.
2006-11-26 14:10:57 · answer #8 · answered by balugajuice 1 · 0⤊ 2⤋
The act will weaken the rich nations, and the poor nations will be enouraged to remain unproductive. Then they will borrow money again, and waste it.
2006-11-26 14:12:21 · answer #9 · answered by Boomer Wisdom 7 · 1⤊ 0⤋
of course not. It would be the same as letting poor citizens declare bankruptcy. They would just do it all over again because that is their way of life.
2006-11-26 14:17:41 · answer #10 · answered by Johnny 2 · 1⤊ 0⤋
Who decides when to start counting again?
I think we all should get a piece of candy.
2006-11-26 14:13:52 · answer #11 · answered by farmer 4 · 0⤊ 1⤋