26 upvotes, 2 direct replies (showing 2)
View submission: The Guardian View on Development’s Paradox: The Rich Benefit More Than The Poor
The World Bank reported that in 2023, affluent countries received over $1.4 trillion in loan repayments from developing nations, a figure projected to exceed $2 trillion annually by 2030.
So we should stop providing loans to developing nations, or what's the point the author is trying to make?
Comment by Isle395 at 22/01/2025 at 10:53 UTC
3 upvotes, 0 direct replies
Some of those loans, yes. Especially loans taken out by dictators who leave the population to repay it after their demise, or loans with especially onerous repayment conditions.
Why are so many countries facing a debt crisis? And is there a solution? : Goats and Soda : NPR
Loan forgiveness programs are is probably the fastest and most immediate way that we could help 3rd world countries.
Comment by juliankennedy23 at 20/01/2025 at 19:10 UTC
-7 upvotes, 0 direct replies
Yes, of course, by giving the money, we're making ourselves richer. Or something.