The indebtedness of sub-Saharan African countries is said to be one of the greatest problems faced by them in present times. [Omole 2003:1] Not only has it led to economic stagnation of these countries and the increase in global inequality, it has further increased the number of people living in extreme poverty and reduced the ability of developing countries to have a strong political and economic foot on which to stand. The most vulnerable groups within …
showed first 75 words of 1929 total

showed last 75 words of 1929 total
…the highly indebted African countries need to prove they are worthy of receiving debt-forgiveness - sums no longer used for debt repayment must be transferred to "national development funds" that are managed by the government but are also under the "active supervision of the citizens' movements". [Millet and Toussaint 2004:160] This is to ensure that the funds are not plundered by corrupt officials, and that poverty reduction and economic and human development does truly take place.