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Scrutiny
  
Debt relief...
Isn’t this a better way of fighting poverty and misery?
18/10/2007

A coalition of eighty anti-poverty groups in US have initiated a movement to win support that would annul external arrears owed by world’s poorest nations. Indebted nations spend $100 million every day to serve their external debt, which they could have utilised for providing basic amenities like food, health & education. Studies by the World Bank reveal that countries that have more access to resources through debt relief have doubled their poverty eradication initiatives. For instance, G-8 nations’ approvals of debt cancellation proposals have resulted in immense social improvement in many impoverished countries. When Tanzania received debt relief of $3 billion, its funding on poverty eradication increased by 130%. Debt relief has enabled Burkina Faso, Honduras to combat AIDS and provide education & safe drinking water. Similarly, it enabled Zambia to recruit more teachers. The real threat to mankind is not AIDS or poverty but lack of fund to fight them. Here, essentially is a tough choice for mankind! Should we have more funds to fight terror or fight poverty? Because each sadly leads to the other.

By:- B&E
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