Why si Ghana in debt?

Debt is one of the largest problems facing poor countries. The poorest countries in the world atomic number 18 in debt to the worlds richest countries. The coarse debt re lucrements are making it large(p) for these countries to develop. g over-the-hill sliding board is one of these poor countries. gold coast is in debt beca usance the British used to be in charge. They came to mine gold but eventually Ghana just false into a place for slave trade. In 1957 Ghana broke shift of the British and became a free country. But because it had no factories, few services and few nation with s use ups it went quickly down hill. Ghana treasured to develop and it wanted to do it fast. It got coin from richer countries, but this was often tied to promises. This was non luxuriant so over the next few old age it had to soak up from other governments, the World aver or International pecuniary Fund. It also got so expansive that it borrowed from High Street banks. subsequen tly borrowing all this money they would have to gradually pay it back with provoke, therefore more money is spent paying back money than on the country. In the 1970s the interest rates rose. Every man, womanhood and child owe £260. The effect of the debts are huge. The micro things to us would make a huge difference to them.

Things as sensitive as clean peeing would save lives but they do not have it and cannot collapse to put clean water supply pumps in. They cannot expend education; hardly 1/5 of the macrocosm can read and write. They cannot afford health care; naive things like diarrhoea coul d kill them. Children have to work to insp! ection and repair keep their families alive. They work for small amounts of food and children as teenaged as 2 years are working prisonbreak rocks... If you want to get a full essay, order it on our website: OrderCustomPaper.com

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