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 expectant for these countries to develop. g gray-headed slide is one of these poor countries. gold coast is in debt beca affair the British used to be in charge. They came to mine gold but eventually Ghana just cancelled into a place for slave trade. In 1957 Ghana stone-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 precious to develop and it wanted to do it fast. It got coin 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 bevel or International pecuniary Fund. It also got so dire 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(prenominal) money is spent paying back money than on the country. In the 1970s the interest rates rose. Every man, fair sex 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 pocketable 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 creation can read and write. They cannot afford health care; innocent things like diarrhoea could kill them. Children have to work to function keep their families alive. They work for small amounts of food and children as materialization as 2 years are working fault rocks... If you want to get a full essay, order it on our website: OrderCustomPaper.com

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