Essay On Debt Forgiveness

Debt Forgiveness for Ending Poverty Many third world countries are in a devastating state of poverty and a very substantial number of those countries and people in those third world countries are in a state of owing immense amounts of debts. Debt forgiveness can either be partial or complete forgiveness and relief of a debt individuals or countries that they owe to either the government or another country at no expense or strings attached, thus giving them a clean slate and a new start. Also, debt forgiveness of third world countries to its citizens or debt forgiveness of first world countries such as America towards third world countries can help reduce and end poverty. However, debt forgiveness is a controversial idea viewed by some people …show more content…
Relieving third world countries of their debts and improving their social living conditions are enough to end poverty, without the creation of more jobs for third world countries in poverty, those countries will always stay in a state of poverty (Orovic and Smale). In locations such as Recife, Brazil, the unemployment percentage is incredibly high as there are families who are desperate to make money no matter how little (The End of Poverty?). For example, in Brazil, there is a man who became unemployed after being laid off and now has to sell bottled drinks for $0.50 in order to support his wife and four children where they live in an unsanitary home that is the length of a basement room (The End of Poverty?). Also, debt relief can help create higher paying wages at jobs instead of meager pay rates such as Edinaldo who is a crop cutter, who makes $27.50 per month in Sao Paulo, Brazil (The End of Poverty?). Debt relief can help relieve a family of debts owed to their government and it can give them the opportunity to find an occupation that pays money rather than nothing from slave-like jobs on