Should developed countries cancel the debts of the poorest nations?

Charlie - posted on 08/26/2010 ( 6 moms have responded )

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The burden of debt costs lives. Some of the most heavily indebted poor countries are struggling to pay even the interest on their loans, let alone the actual capital. This massively distorts their economies and their spending priorities. African nations currently spend four times as much on debt repayments as they do on health. The Structural Readjustment Programs demanded by the IMF (International Monetary Fund) in return for rescheduled debt make this problem even worse. Since the SAP began in Zimbabwe, health care spending has dropped by a third; in Tanzania, school fees have been introduced to raise more money. Progress made in health and education over the past 50 years is in some countries actually being reversed. It is obscene that governments are cutting spending in these vital areas to pay back debts: the debts must be cancelled now.

Yes or no ?

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Yes, totally. this debt is allowing people to die because of the lack of health care and children never get an education because they cannot attend school if they want to survive. A poorly educated nation is only going to make the problem worst... it's a cycle that should end. Richer countries have the power to help the indebted nations and definitely should. Richer countries don't need the money, they just need to manage what they have now properly.

Stifler's - posted on 08/26/2010

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Yes, considering the rich countries got rich exploiting the poor countries resources.

Jodi - posted on 08/26/2010

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No argument from me.....Look at the current overspending. Seriously, millions of dollars to build a few classrooms? Give me a break. If our own governments were more aware of their spending and had realistic budgets (not the fluffy ones they use now) there would be plenty to go around.

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