Debt of developing countries: Difference between revisions
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'''Unpayable debt''' is that incurred by [[third world]] [[country|countries]] that, with interest, exceeds the amount that the country [[GDP|produces]]. It is considered by some a method of [[oppression]] or [[control]] by [[first world]] countries. The debts of poor countries could easily be paid off by first world countries. For example the [[UK]] could pay off all of the debt owed to it for £3 per person for the next ten years [http://www.jubileedebtcampaign.org.uk]. However, some [[economists]] argue against this course of action (what is to stop such nations getting into debt again, for instance), and there is little [[politics|political]] will to do this. |
'''Unpayable debt''' is that incurred by [[third world]] [[country|countries]] that, with interest, exceeds the amount that the country [[GDP|produces]]. It is considered by some a method of [[oppression]] or [[control]] by [[first world]] countries. The debts of poor countries could easily be paid off by first world countries. For example the [[UK]] could pay off all of the debt owed to it for £3 per person per year for the next ten years [http://www.jubileedebtcampaign.org.uk]. However, some [[economists]] argue against this course of action (what is to stop such nations getting into debt again, for instance), and there is little [[politics|political]] will to do this. |
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Revision as of 22:14, 19 May 2004
Unpayable debt is that incurred by third world countries that, with interest, exceeds the amount that the country produces. It is considered by some a method of oppression or control by first world countries. The debts of poor countries could easily be paid off by first world countries. For example the UK could pay off all of the debt owed to it for £3 per person per year for the next ten years [1]. However, some economists argue against this course of action (what is to stop such nations getting into debt again, for instance), and there is little political will to do this.