 |
 | | |  VoiceOver 2015 member | | | | Marciano benito Dijksteel | | Suriname | | 15 posts | | View profile |
|
|
|
30 January 2010 17:35 Quote |
|
Poor Country Debt Relief....possibility or Utopia?
I share this topic coming out from the summit on youth in the Carribean which is being held in Paramaribo. One of the issues that was raised by the president of Guyana, was the fact that we need to keep in mind that leaders of most poor countries are blamed for not managing their resources correctly. Not many (financial)resources are being allocated for crucial sectors. This is in many cases unfair cause the fact is that most, if not all poor countries are facing debt. A great deal, more than 50%, of the GDP is earned to " serve debt". And that is a frustrating matter for some leaders.
Relieving the foreign debt of 41 poor countries was high on the agenda of the G-8 industrialized countries.Those nations, mostly in Africa, have about $200 billion in foreign debt that they cannot repay. Some critics say that debt forgiveness is only a "short term fix."
News resources reported that France had relieved Haiti's debt after the disaster. It is difficult to hold citizens of highly indebted poor countries responsible for the gross abuses and policy mistakes of their rulers who received generous support from western aid agencies. Many of those countries, after all, contracted those debts under authoritarian governments.. Debt relief will only be a long-term fix as long as further flows of much-misnamed foreign aid are halted..
So what do you think on this matter?
source: www.caricom.org
www.cato.org |
|
|
All forums 
|
Forum search |
Create public account |
sign up as worldconnection |
Sign up as a Voiceover member
