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- Should poor nations have their debt forgiven by developed nations?
Should poor nations have their debt forgiven by developed nations?
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4 Contributors
in this discussion.
Developed countries should develop a plan to forgive debts by poor nations, because some do not have the means to pay it back.
Many poor countries ran up international debts, where the previous rulers stole the money, or it was wasted. These countries do not have the means to pay back the debts. Developed countries should have a plan where these debts are written off. It will help the poor countries get a fresh start.
Yes ddeathnoteIf the country is moving forward in a positive way, debt should be forgiven.
The loan was initially given to the poor country to help it. Forgiving debt is basically the same as giving them another loan. As long as the country is moving forward in a positive, democratic way, debts should be forgiven. A country that is starting from the bottom would accumulate way too much interest to be able to pay off the debt anyway. So, I say help them out and forgive their debts.
Yes ScrawnyNormand46
I do not believe that poor nations should have their debt forgiven by developed nations, due to the fact that it keeps one nation from getting the money the deserve.
Poor nations should not have their debts forgiven, because it gives them a free pass on money that they owe. Rather than having their debts forgiven/pardoned, poorer nations should work on efficient spending and stimulating their economy for long term improvements. If a country knows they can't pay money back, then they should not be taking out loans.
No PlausibleHerschel43I disagree, because each country should be able to run self-sufficiently.
I disagree with stronger nations bailing out, so to speak, not so strong nations. Don't get me wrong, I love to help people. But, when is enough, enough? Seriously, these developing nations should not be relying on money given to them by our country, or any other, for that matter.
No BoundlessHomer49
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Should poor nations have their debt forgiven by developed nations?
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