Why si Ghana in debt?

Debt is one of the largest problems facing poor countries. The poorest countries in the world are in debt to the worlds richest countries. The coarse debt re lucrements are making it strong for these countries to develop. g elderly soaring is one of these poor countries. gold coast is in debt beca subroutine the British used to be in charge. They came to exploit gold but eventually Ghana just morose 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 wanted to develop and it wanted to do it fast. It got funds from richer countries, but this was often tied to promises. This was not luxuriant so over the next few old age it had to soak up from other governments, the World marge or International pecuniary Fund. It also got so despairing that it borrowed from High Street banks. subsequently borrowing all t his 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, charwoman 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 minor(ip) 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 population can read and write. They cannot afford health care; unbiased things like diarrhoea could kill them. C hildren have to work to serve well keep the! ir families alive. They work for small amounts of food and children as youthful as 2 years are working breaking rocks... If you want to get a full essay, order it on our website: OrderCustomPaper.com

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