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Debts of nations paid off six times

on Thursday, 01 March 2001. Posted in Debts & Deficits

At the World Social Forum of Porto Alegre, Brazil last January, which was held to counterbalance the "global dictatorship" of the banks and multinational corporations in Davos, Switzerland, experts said that the debt of lesser developed countries (LDC) had increased fourfold in twenty years, passing from $520 million in 1980 to $2,070 million in 2000, while these same countries paid back, over the same period, $3,350 million in interest - six times their actual debt of 1980. They paid off their debt more than six times. Is it not time to cancel it?

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