Forgiving African Debt

32 views1 pages
One of the ways to aid Africa is to forgive African debt.
-
Apparently, we are worse off than Greece.
Despite this, we are a model country, apparently.
Spending on social programs (child benefits, etc.) is about 25%.
Military spending is about 1% of GDP, but it is 8% of the budget.
Canada's debt expenditures are about 11% of the budget.
-
Countries are sovereign.
Under Paul Martin, Canada tried to advance the idea that one of the best things
we can do for the world was to… forgive the debt.
-
We've tried to forgive debt, but it didn't work well.
Canada's banks wanted to merge, and Paul Martin stopped that from
happening.
People will likely get into more debt, given the opportunity.
Internationally, there are no regulations from stopping countries on taking
more debt than they can afford.
A lot of countries don't have "sovereign wealth funds."
A lot of American countries will continue to take on more debt… because
they can?
Canada is very much complicit in lending $.
-
Canada's contribution to African debt.
Forgiving African Debt
March-01-13
9:34 AM
POLS 375.3 Page 1
Unlock document

This preview shows half of the first page of the document.
Unlock all 1 pages and 3 million more documents.

Already have an account? Log in

Get access

Grade+
$10 USD/m
Billed $120 USD annually
Homework Help
Class Notes
Textbook Notes
40 Verified Answers
Study Guides
Booster Classes
Class+
$8 USD/m
Billed $96 USD annually
Homework Help
Class Notes
Textbook Notes
30 Verified Answers
Study Guides
Booster Classes