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African
Joined: Aug 18, 2003
Posts: 44 (view all)
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Country: South Africa
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Developed world abetting looting
July 7, 2005 - 10:32 AM
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The developed world should stop banking money stolen from public coffers by African and developing nation's leadership. Only then will they show their genuineness in fighting graft. There is no reason to bank the Third World stolen cash, return and lend it to African and the Third World nations as "aid" (consessional loans) upon which they demand high interest rates for the same. This is still going to perpetuate debt. THe Debt Relief initiatives will be a failure if this is not tackled as there will be still be the vicious cycle of poverty and perpetuation of the "begging bowl" culture in Africa and the developing world.
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