Debt Forgiveness: The Missing Link in Closing Gap with Third World?
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The Doctrine of Odious Debts was created to further international finance by limiting the ability of governments to repudiate debts. Under the doctrine, three conditions must be present before a state can refuse to pay a debt: 1) The debt must have been incurred without the consent of the people of the state and 2) the debt can not have benefited the public in that state and 3) the lender must have been aware of these two conditions. I believe that this is a great programme because, in cases like Iraq, it will remove the burden from the citizens for paying for their oppression. …
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