- Target:
- To help LEDC have enough money to start developement schemes, after Western Banks cancel the debts.
- Region:
- GLOBAL
Lower Economically Developed Countries were struggling to provide enough money to put towards development projects, so the more developed, richer countries offered loans to those countries.
So the LEDCs went ahead with this and failed to develop the country with this money. So every year, these countries struggle to pay back what they owe the Western Banks, yet because of the interest, the banks have received at least 5 times as much money as they loaned out.
So the banks have made their money, now can't they release these LEDCs from the hell they are in. When the countries stop paying the debts, they can save up for development, overall, making the world a better place.
Please sign this petition if you think the Western Banks should cancel out the debts of Lower Economically Developed Countries.
You can further help this campaign by sponsoring it
The Cancel Debts of LEDCs to the Western Banks petition to To help LEDC have enough money to start developement schemes, after Western Banks cancel the debts. was written by James Carter and is in the category International Affairs at GoPetition.