I don't think it will help that much as most of these countries...if not all...are rife with corruption...and will soon be in debt again.
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When you're running down my country hoss...you're walking on the fighting side of me!
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See it this way, it's a great goodwill move from G8. Not like they were gonna see that money ever again...Whitehat is for chumps
If you don't do it, somebody else will - true story! -
And the first thing they will do? Spend more money ...
"We can expand health and education services with this relief," said Daudi Balali, the governor of Tanzania's central bank. "We will also be able to expand our infrastructure."
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That would be the idea of clearing debt.. it gives them the chance to build.. they've just gotta do it right.Originally posted by Almighty ColinNo way as way, No limitation as limitation. AmeriNOC formally PhatServers
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I take it back. I didn't realize Tanzania has employed Hernando de Soto's group as consultants and are implementing his ideas. I read "The Mystery of Capital". Excellent book.Originally posted by chemicaleyes
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I think you are correct...on both points.Originally posted by DamageXWhen you're running down my country hoss...you're walking on the fighting side of me!
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Fact of the matter is that America is as corrupt as most of these poor countries.Originally posted by thekingI don't endorse a god damn thing......
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Having a healthy and educated workforce along with a solid infrastructure is the only way they'll be able to make it on thier own long term.Originally posted by Almighty Colin
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The have so start with stuff like education and healthcare...Originally posted by Almighty Colin
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agree with ya 100%Originally posted by DamageX
not like they'd see any poenny of it
so write it off as goodwill gesture
and same time.. world bank doesn't charge tjhem intrest or anything
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Where do you get that "fact" from? "Transparency International", a German based group ranks countries according to the level of corruption. The US is ranked very low in corruption. In the bottom 15%.Originally posted by blazin
It is less costly to operate extralegally than it is to operate legally in these countries. In the US, if you want to purchase a property or apply for a business license you can own it in about a month. In many of these countries that same process can take years - if ever. As a result, people resort to bribing local officials. This is the result of poor legal and judicial institutions.
It's not about people being more or less corrupt but rather systemic corruption which is a function of how well the legal system reflects the needs of people and businesses. Many of these nations are so corrupt that it hampers with the capitalistic process.
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As corrupt as a country may be, much of this debt is from thr World Bank and the IMF, so, in order for the country to go into debt 'again' it would be because they took on more loans, which is at the discretion of the lending party and has no relation to the degree of corruption.Originally posted by theking
China and Russia have two of the most corrupt economies in the world, and yet this has little bearing on their international debt and/or ability to function economically.I died.Comment
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Ahem. Where did that IMF loan to Russia disappear to again?Originally posted by Dollarmansteve
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