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Should Zambia's Debt be cancelled?

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Should Debt in Zambia be cancelled? Zambia is one of the world's poorest nations with 65% of the population below the poverty line. Many of Zambia's population live with under $1 per day. However the World Bank's representatives believe that if they cancel the debt they will lose a lot of money, especially since Zambia decided to choose to borrow from them in the first place. Also, it will be hard to decide what other countries should have their debt removed. ...read more.


The removal of debt could also cause hyperinflation and cause huge economical problems, which may not be expected. The World Bank would also believe they can't invest in something that has no return, so they would need a decent return from their lending before they cancelled the rest of the debt. The EU may also not want to cancel the debt as European citizens might put them under pressure. Also, the EU may believe they haven't done any thing worthy to cancel the debt. ...read more.


This cycle continues until somehow Zambia gathers enough money to pay off debt. The president of Zambia may say, if the debt is cancelled, they will be able afford better schools and create better jobs to help improve the country's economy. Healthcare will also be improved which will reduce the number of child deaths and increase the infant mortality of the country. In conclusion, I believe something has to be done about Zambia, and other countries, debt problems; but it can't be done straight away as the effects may cause problems. Instead, there may be other ways to stop this problem, such as untied aid. ?? ?? ?? ?? Vishnu Pahwa 9B ...read more.

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