World Banks

All third cosmea countries are in billions of pounds worth(predicate) of debt
these are countries are in debt to the banks. Governments therefore
have to increase taxes and deceive assets, and they give no assistance to
their local people in order to pay back the debt. This is a major
priming coat shadower the massive poverty and starvation in the third world.
In this essay I am going to explore the reason behind third world debt
and what should be done to process the countries in the most debt. Many
countries try to help third world countries by giving instigate. This is
known as foreign aid but because of all the debt they owe does this do
more harm than practiced? The dictionary definition of the term foreign
aid is: The administered transfer of resources from the advanced
countries for the purpose of boost economic growth in developing
countries. However, so as not to confuse foreign aid with the
investments of multinational corporations or commercial-grade banks, many
economists require foreign aid to meet distinct criteria: Its
nonsubjective must be non-commercial from the point of view of the donor
i.e. it should be addicted to the country in return for nothing. It
should not be utilise as a way of making money done interest on
repayments.



The economic debts of the developing world will not be
fully repaid, quite simply because the people who live in the
developing world cannot afford to repay them. The harsh realness of
poverty in poorer countries was an initial stimulus for the loans.
Economic conditions suggested that borrow money was a reasonable
course of action in the 1970s, in particular for poor countries, which
perceived few, if any, alternative ways to address the economic danger
of their citizens. In 1987, the average per capita income for people
living in the poor countries in the South was only 6 percent of the
income in the true countries of the North. In Africa, one-fifth
of the population lives in poverty, with those in sub-Saharan Africa
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