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Forum nameOkay Activist Archives
Topic subjectRE: Debt-relief in the Third World
Topic URLhttp://board.okayplayer.com/okp.php?az=show_topic&forum=22&topic_id=23235&mesg_id=23240
23240, RE: Debt-relief in the Third World
Posted by mke, Thu Jul-27-00 09:57 PM
I wish that 3rd World debt could be forgotten.
Unfortunately, there are a few barriers to that.

1. The world system runs on debt/credit. Think about it. Which is the richest country? Which is the most indebted? One and the same. To eliminate debt, even for the poorest few, is to call into question the lubricant of the world economic system, and we all know that that isn't going to happen.

2. When debt is relieved, immediately talk of conditionality follows, which means "We'll give you more help, if you give us more control." Seeing the track record of those taking more control, who do you think is going to benefit?

3. Debt isn't generally owed to countries but to private companies. The money might not be much for a country (or even for the company), but as above, debt isn't going to be forgotten for free, especially not by companies. In any case, the companies will want their money, so the rich countries would have to pay these companies the debt in some way or other.

AIM: mke1978

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In English:
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