The international community should reduce or eliminate the debts of the world’s poorest countries. To what extent do you agree or disagree?
Elite countries should step forward and help developing countries by easing up their financial obligations. This proposal is beneficial and humane can help the world prosper faster. I agree with this idea and believe that such measures should be adopted to alleviate the misfortunes of poverty-stricken societies.
By taking monetary aid from the communities, poor countries, which are trapped in a vicious circle, will be able to stand on their feet once again. These nations can utilize this amount to ameliorate the life of their citizens by rendering efficient and advanced facilities. Moreover, with these funds, these countries will be able to improve the infrastructure and create numerous opportunities in almost every realm. With this perspective, reducing the financial liability will aid in the progress of the underdeveloped countries.
On top of that, this may also help in mitigating the global crisis caused by the exodus of people, of deprived societies, seeking shelter in rich countries as refugees to escape poverty in their homelands. Such movements impose an immense -pressure on the local economies of the elite nations, but the governments seem helpless due to absence of opportunities in economically weaker nations, who in turn are cowed down by huge repayment burdens. If the loans extended were pardoned, the poor nations would be able to create better opportunities for their natives, preventing the latter from seeking refuge in other parts of the world.
To reiterate, I completely concur with this proposal since pardoning loans seems to be the only way in the current scenario, which can aid in upheaval of those living in deprivation in various parts of the world. This will have a long lasting impact on the global society.
In order to mitigate the troubles and financial liabilities of indigent countries around the world, the international organisations should take effective and immediate initiatives for improving the standard of living of the population.
