The international community should reduce or eliminate the debts of the world's poorest countries.
To what extent do you agree or disagree with this statement?
Some schools of thought hold that the debts of many impoverished nations should be lowered down or completely eradicated by the worldwide community. In this essay, however, I will be against the latter notion as well as explaining why advocating for the former.
On the one hand, the total forgiveness of the debts in many poor-conditioned countries could be seen as a negative approach for several reasons. Writing off debts is only a quick fix, as it also poses a likelihood for the poor nations to become overdependent on the international community, which means whenever they are on the verge of dealing with an economic crisis, recession, there is always a bailout given by other thriver/ more prosperous / flourish countries. As a consequence, the dedication and perseverance to overcome the poverty of those under-developed one could no longer be accelerated because there were no financial problems to be tackled with, leading to more debts being in curved.
On the other hand, some crises believe that curbing the debris is a sensible source to help foster the thriving economy of many poor nations as the poor are unable to repay all the debris as well as enhancing the flourishing of the economy and living standards within the limited resources. Therefore, many international support such as free up loans could help the impoverished nations concentrate on their other critical areas like educational systems, health-care services and social infrastructures in order to stimulate the long-term economic growth, in parallel with breaking the cycle of poverty.
In conclusion, while the elimination of debts in many poor countries is only a contemporary source, the reduction of that money is a more efficient solution, resulting in a more sustainable development on the daily living standards of those nations.
To what extent do you agree or disagree with this statement?
Some schools of thought hold that the debts of many impoverished nations should be lowered down or completely eradicated by the worldwide community. In this essay, however, I will be against the latter notion as well as explaining why advocating for the former.
On the one hand, the total forgiveness of the debts in many poor-conditioned countries could be seen as a negative approach for several reasons. Writing off debts is only a quick fix, as it also poses a likelihood for the poor nations to become overdependent on the international community, which means whenever they are on the verge of dealing with an economic crisis, recession, there is always a bailout given by other thriver/ more prosperous / flourish countries. As a consequence, the dedication and perseverance to overcome the poverty of those under-developed one could no longer be accelerated because there were no financial problems to be tackled with, leading to more debts being in curved.
On the other hand, some crises believe that curbing the debris is a sensible source to help foster the thriving economy of many poor nations as the poor are unable to repay all the debris as well as enhancing the flourishing of the economy and living standards within the limited resources. Therefore, many international support such as free up loans could help the impoverished nations concentrate on their other critical areas like educational systems, health-care services and social infrastructures in order to stimulate the long-term economic growth, in parallel with breaking the cycle of poverty.
In conclusion, while the elimination of debts in many poor countries is only a contemporary source, the reduction of that money is a more efficient solution, resulting in a more sustainable development on the daily living standards of those nations.