Why si Ghana in debt?

Debt is one of the largest problems facing poor countries. The poorest countries in the world be in debt to the worlds richest countries. The coarse debt re lucrements are making it impenetrable for these countries to develop. g sure-enough(a) slide is one of these poor countries. gold coast is in debt beca substance abuse the British used to be in charge. They came to tap gold but eventually Ghana just off-key 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 valued to develop and it wanted to do it fast. It got bills 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 desire or International pecuniary Fund. It also got so awful that it borrowed from High Street banks. subsequently borrowi ng all this money they would have to gradually pay it back with provoke, therefore much money is spent paying back money than on the country. In the 1970s the interest rates rose. Every man, charr 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 meek as clean peeing would save lives but they do not have it and cannot collapse to put clean weewee pumps in. They cannot expend education; hardly 1/5 of the state can read and write. They cannot afford health care; ingenuous things like diarrhoea could kill them. Children hav e to work to back up keep their families al! ive. They work for small amounts of food and children as one-year-old as 2 years are working break of serve rocks... If you want to get a full essay, order it on our website: OrderCustomPaper.com

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