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    Bearing in mind the recent news of the world's richest countries agreed to write off the debt owed by 18 mainly African countries, I firstly wonder WHICH 18 countries does it include ??? Additionally, this write off debt will also benefit 22 other nations & would like to know WHICH 22 nations does it include ??? How much can each country borrow from the World Bank & what sort of interest is levied upon these borrowing & how about the time duration of paying them off ???

    Is this debt owed by African countries to the "world bank" OR to these 8 richest countries, individually ??? How exactly does giving away money to other nations work, for the World Bank, not just these African nations, but world bank owe USA around $8 billion (the MOST, as compared to any other nation on the planet). Can anyone provide me with the list of each individual country, the debt they owe to world bank, which I somehow came across on Internet few months back, but am not quite able to get it now, regardless of different searches, over the Internet.

    Before this debt was written off, how much were these coutries were contributing each year or regularly to pay their debt off ??? Bearing in mind the dismal state of their country, I wonder whether they were in fact, capable enough to pay the debt in first place, in terms of were they actually able to make their regular instalment (if that's how it works) ???

    Would writing off their debt be enough for these poor countries, as I presume they would need to borrow further to keep their country running, as they have been doing & if that happens, wouldn't they be back to square one, once again ???

    Would like to enlighten myself with this issue. Thanks
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    By writing off the debts the only people gaining are the corrupt governments who operate in A LOT of African countries. Surely we should sort out the corupt governments BEFORE writing off the debts
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    (Original post by j4mes_bond25)
    Bearing in mind the recent news of the world's richest countries agreed to write off the debt owed by 18 mainly African countries, I firstly wonder WHICH 18 countries does it include ??? Additionally, this write off debt will also benefit 22 other nations & would like to know WHICH 22 nations does it include ??? How much can each country borrow from the World Bank & what sort of interest is levied upon these borrowing & how about the time duration of paying them off ???

    Is this debt owed by African countries to the "world bank" OR to these 8 richest countries, individually ??? How exactly does giving away money to other nations work, for the World Bank, not just these African nations, but world bank owe USA around $8 billion (the MOST, as compared to any other nation on the planet). Can anyone provide me with the list of each individual country, the debt they owe to world bank, which I somehow came across on Internet few months back, but am not quite able to get it now, regardless of different searches, over the Internet.

    Before this debt was written off, how much were these coutries were contributing each year or regularly to pay their debt off ??? Bearing in mind the dismal state of their country, I wonder whether they were in fact, capable enough to pay the debt in first place, in terms of were they actually able to make their regular instalment (if that's how it works) ???

    Would writing off their debt be enough for these poor countries, as I presume they would need to borrow further to keep their country running, as they have been doing & if that happens, wouldn't they be back to square one, once again ???

    Would like to enlighten myself with this issue. Thanks
    I've seena map showing where these countries are (theres a few in central and S.America) but not which individual countries they are. From the map i can say that Nigeria is definately one though. Think kenya is too.
    Anyway they can't pay off the debt, tho they have been managing to pay the interest which stands at about $1.5bn a year (collectively i think, not individually!)
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    (Original post by The Colonel)
    By writing off the debts the only people gaining are the corrupt governments who operate in A LOT of African countries. Surely we should sort out the corupt governments BEFORE writing off the debts
    That is an important point and I'm pretty sure there are conditions set on the countries receiving the debt relief that the money needs to be out to good uses to ensure the debt is not given back. This is also in the form of conditions in reducing corruption.

    Though nothing has been said about if for a while, if you remember, Gordon Brown went on a long trip to Africa at the start of this year and met up with the leaders of several countries who will be receiving this debt relief. I know there and then on that trip something was set up with the Government of Tanzania to scap the debt that they owed the UK. The condition being that the money the country saved from the payments had to be seen to go directly into improving and widening access to education.

    I think simialr things will or have been debated with the other countries.
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    (Original post by Roger Kirk)
    That is an important point and I'm pretty sure there are conditions set on the countries receiving the debt relief that the money needs to be out to good uses to ensure the debt is not given back. This is also in the form of conditions in reducing corruption.
    The G8 need to establish an international organisation to distribute aid, rather than letting corrupt Afrian regimes waste it on Presidential palaces and other delicacies. If the G8 can replicate the Marshall Plan at the end of WWII with an equivalent to the Organisation for European Economic Co-operation, they will alleviate poverty much more successfully.
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    (Original post by foolfarian)
    I've seena map showing where these countries are (theres a few in central and S.America) but not which individual countries they are. From the map i can say that Nigeria is definately one though. Think kenya is too.
    Anyway they can't pay off the debt, tho they have been managing to pay the interest which stands at about $1.5bn a year (collectively i think, not individually!)
    Thanks for the reply. With bit more searches over the Internet, I came across with this map, showing the countries that are in heavy debt, presently. You might find it interesting yourself.

    http://en.wikipedia.org/wiki/Image:H..._Countries.png
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    (Original post by j4mes_bond25)
    Thanks for the reply. With bit more searches over the Internet, I came across with this map, showing the countries that are in heavy debt, presently. You might find it interesting yourself.

    http://en.wikipedia.org/wiki/Image:H..._Countries.png
    I'm not sure how long it has been there, but the BBC also have a map and a list of the 27 countries eligable for debt relef and the 18 countrie for which something has already been agreed:

    http://news.bbc.co.uk/1/hi/business/4084574.stm#map
 
 
 
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