Sunday, September 25, 2005

Forgive Us Our Debts

The International Monetary Fund (IMF) reached an agreement this weekend to forgive billions of dollars of debt for poor countries. Now it is up to the World Bank to approve this. Suppposedly, this debt forgiveness will allow those poor countries to concentrate on infrastructure improvements and other spending to improve their economies rather than paying back their debt. While I'm no economics expert, this does seem like a good thing. However, I wonder, will these poor countries actually follow through on their obligation? Many of these countries are governed by corrupt dictatorships. Are these dictators going to build their countries or pad their palaces? My hope and prayer is they will help their citizens so that the poverty that is so rampant will be seriously wounded. Only time will tell.

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