Author Archives

Unknown's avatar

Other News Sources

Repudiating Third World debt

(June 1, 2005) The devastation caused by the Third World’s debt is finally getting the attention it deserves. Many of you will have read in the newspapers about the plans of world leaders to finally forgive the dreadful debt that the world’s poorest have been burdened with. But why are the lenders – mostly northern governments and their agencies, such as the World Bank and IMF – suddenly arguing for debt forgiveness when before they so stubbornly argued that Third World nations must repay their debts?