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    let go of the third world debt? Wouldn't it help the poor countries to prosper (potentially)?
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    Maybe with a new wave of liberalism, but definitely not so with the market fundamentalist people in charge
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    i wish i could understand the above :lolwut: (i'm stupidddddddddd, help me out)
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    will they pay us back once theyre prosperous?
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    why do you need to be paid back?
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    No, they need much much more than money, let's be honest here..
    It's not as simple as that.
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    the third world has to help itself. no more corrupt leaders. no more strife and conflict. and be more innovative.

    we can cancel their debt and write it off as doubtful/bad debt, but they have to play their part too.
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    That's not enough. Also, officials in poor countries are very corrupt.
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    havent they already done that once but then they just got back into debt
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    (Original post by Boo.)
    why do you need to be paid back?
    if you lend, you expect to be paid back.

    i don't think giving them free handouts is good either.
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    A lot of "3rd world" countries are able to cater for themselves, the problem there is corrupt leadership. People keep pouring money into these countries in the form of charity and aid yet all it allows is the support of the population to reproduce causing more issues. Unless you can sort out the leadership these countries are always going to be moneyholes and as there's no financial gain to invading (Iraq with oil) and the money loaned was supposed to help bring them up to the rest of the world. If they can't help themselves when given the chance you might aswell just get the money back in interest and hope eventually their leaders might learn their lesson.
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    (Original post by Boo.)
    why do you need to be paid back?
    It's the terms and conditions of a loan, they knew perfectly well when they took them out it's not free money such is the nature of a loan. Besides it's not as though we can just 'drop the debt' the proportion of the debt in Africa and other countries owned by western governments is actually small in comparison to the money lent by private institutions like banks for instance Barclays, HSBC, et al. It's not exactly as though Brown can turn round and say 'oi Barclays stop recouping the money you lent them'.

    Besides it's not just as simple as dropping the debt as once that happens countries will simply turn to the banks again and ask for more high interest development loans which will no doubt disappear into the web of governmental corruption never to be seen by the people it is supposed to help.
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    (Original post by Steeps)
    A lot of "3rd world" countries are able to cater for themselves, the problem there is corrupt leadership. People keep pouring money into these countries in the form of charity and aid yet all it allows is the support of the population to reproduce causing more issues. Unless you can sort out the leadership these countries are always going to be moneyholes and as there's no financial gain to invading (Iraq with oil) and the money loaned was supposed to help bring them up to the rest of the world. If they can't help themselves when given the chance you might aswell just get the money back in interest and hope eventually their leaders might learn their lesson.
    I don't think corrupt leaders would learn lessons. They just care for themselves. Leaving the masses become poorer and poorer.
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    Why should we ?? We built ourselves up from the ground. The ammount of money which is sent to 3rd world contries each year is an immense ammount. Think how much is raised due to charitable donations?? and what do you see for it ??? nothing... they might enjoy living the way they do, they dont know any different and life's tough - nothings free.
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    (Original post by Boo.)
    why do you need to be paid back?
    because Russia is not a charity. tbh the only country whos debt id be willing for Russia to wipe out and not expect payment back is Serbia (and Belarus) - if they have any.
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    (Original post by gel)
    I don't think corrupt leaders would learn lessons. They just care for themselves. Leaving the masses become poorer and poorer.
    Exactly, the debts would become so large that potentially a developed country could claim it as their own but it would still require an invasion. It's not worth clearing the debt as the leaders would just claim it all for themselves.
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    (Original post by Boo.)
    let go of the third world debt? Wouldn't it help the poor countries to prosper (potentially)?
    too greedy. I wish I could give you some hope. But the fact of the matter is, most the worlds resources and wealth is owned by the minority. Sad but true.
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    Dont think it should be wiped out as people have said that is pretty pointless.

    However, if a country has shown improvement over a sustained period of time ie. improved conditions, infrastructure etc the government is non corrupt (well more than any western government) and would be in a reasonable financial state if they didnt have to repay the loans, there is something to be said for a freeze on the interest or a reduced amount, much like banks / debt collectors do for personal loans.

    Also a freeze or cap on further lending if they took this option to stop them getting back into trouble again might be a good idea.
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    why is everybody so rude in this world
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    why dont they stop fighting and become rich
 
 
 
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