international institutions has increased throughout the world and this growing debt has placed economic pressure on many countries, especially the Third World countries. When they arrived, they found 50,000 people around the conference hall. Education is one of the most important areas of social development for a country, and to under invest in this area has lead, and will continue to lead. All the Third World Debt Advanced by the Developed Countries should be Cancelled Immediately. These countries will stay poor due to this reason and will never be free of debt at this rate. The adaptation of technology in the work field and in daily life had allowed third world countries to be more competitive in a globalized world. Another way to cancel the third world debt and still pay the medcs is by raising taxes, this way the money would be shared out, coming from a lot of people leaving less of a burden on the ledcs. Some banks also agree to cancel the third world debt and they help by covering the loss. As a consequence, the debt continued to growth enormously and economy deteriorates that resulted in debt crises. An example of a country with third world debt is Ghana, just one of the countries from the 32 in Sub-Saharan Africa which are in debt. Debt crisis is the consequences of Northern economic depression and disorder, as opposed to a problem triggered by random shocks and occasional loan frenzies (Suter, 1992).
I am writing about the third world debt and why they should be cancelled, for numerous reasons. Ghana borrowed a huge amount of money from another country to build the Akosombo dam. I think they should cancel the third world debt because debt is the thing keeping ledcs poor. Should third world debt be cancelled? Plus medcs do not need the is clear that the lenders are already well of and don? Since most of the product can be purchased anywhere in the world with the help of the internet, America have no choice but to move their manufacturing company to china to reduce the price. Third world debt is the poor developing countries of the world repaying loans borrowed by their leaders around the 1970?s to medcs (more economically developed countries). Univesiti Utara Malaysia, faculty OF international studies, international Political Economy. One of the chief problems for these developing countries is Third World debt, which is that debt that the governments of Third World owe to foreign banks, governments, and international bodies, such as the International show more content, these Programs imposed by the World Bank. From this essay I can see there are many reasons for and against cancelling the third world debt.