NCCommish
Footballguy
You know it isn't that easy. And a quick question why could we forgive Germanys debt? Why did we give the Brits a sweet heart deal? Some 60 of the poorest countries have paid $550 billion in both principal and interest on $540 billion in loans. They still owe $523 billion dollars. Doesn't seem like a real fair deal. South Africa is still paying off loans used to keep apartheid running so they are paying off the loans the west made to a corrupt regime that oppressed them. I could go on.Tell me that a country like Zambia or Tanzania can't make money off their resources. I'd love to hear your reasoning.Color me shocked.Africa is a very resource-rich part of the planet. If they can't figure out a way to turn their resources into a cash cow and pay off that debt, then they don't deserve to have it forgiven.As do most first world countries. A little different animal though.Doesn't America have it's own debt to worry about?I am all for finding a way to ease the mountainous and ruinous debt these nations carry. The IMF is a big load of ugly IMO. However reparations isn't the way.Look up debt relief. No one is paying checks.http://en.wikipedia.org/wiki/Third_World_debtissue of third world debtBri said:Pay a country? no way.Both world wars involved alot of fighting in Africa for the US military where thousands and thousands of lives were lost. If not, they'd be run by Hitler now and he preferred W.A.S.P.'s. Let's call it even.Hipple said:This group wants reparations TO Africa (much of it in cancellation of third world debt) , not to the descendents of slaves. While you can argue that the descendants of slaves may not deserve an economic windfall, I think it is fair that we compensate the nations whose capital reserves (human capital reserves that is) were plundered at a time when human labor costs was one incredibly important to the development of a nation. I think the cancellation of third world debts (which opens another whole can of worms thread) is a pretty fair way to pay back this debt and maybe allow us to move forward. I think their 777 trillion figure is obviously laughable, but they are including damages and pain and suffering for colonialism there too.
http://news.bbc.co.uk/2/hi/africa/424984.stm
he West is being asked to pay Africa $777 thousand billion within five years in reparation for enslaving Africans while colonising the continent.
G8 Summit 2005: Aid to Africa & Debt Cancellation