|
|
If the people supporting us in our clamour for debt relief want to really assist us, in getting out of the shackles of poverty, they must help us in attaining a good and encouraging political climate plus conditions that facilitate and nurture sustainable economic development. Without any formal policy direction and rapid and result oriented implementation, no amount of loans, aid and other forms of financial assistance can turn poor nations around. It is only when political leaders are motivated to use a country’s resources to develop the country rather than enriching themselves, that development would no longer be a mirage.
The organizations that donate funds must make sure that the fund recipients meet accountability standards. They should also put in place agencies that will be empowered to strictly monitor compliance and enforcement of anti-corruption laws. Public officials in all cadres, in borrowing countries that are mapped out for debt relief, should be made to declare their assets and how they were acquired before assuming office. Assets declaration should be a yearly affair for people occupying public offices. The veracity of the claims in the declaration of assets must also be investigated and found to be authentic.
If proper monitoring is not in place, government subsidized unaccountable banks will continue to lend money to small, poor and corrupt countries with our leaders using the funds to maintain a bankrupt economy and increase their personal wealth.
Without changes in recipient nations in areas such as economic change, transparency and other conditions that will be set for debt relief, borrowing countries will continue to do things in unethical ways and fall back into the mess of borrowing money again from perpetual free-spirited lenders. The whole procedure will amount to funding a moribund system to stay alive and this will result in much harm to the people. When our leaders are accountable, our people will be able to climb out of poverty.
Although I am against any form of Neo-Colonialism, or undue interference, I still believe that “He who pays the piper dictates the tune.” Any intervention from outside should be in good faith and genuine interest of the masses of people in the Third World countries who are being cheated out of genuine opportunities for development.
When we now meet the requirements for debt relief, donor agencies, should assist us through institutional assistance to develop and train our administrators, judiciary and journalists about how they can be useful in bringing about lasting and sustainable developments in the rule of law and good governance. They should also assist us in acquiring infrastructure and technology that are needed for our economy to function effectively.
|
Tags
You must be logged in to add tags.
|
Writer Profile
ADEBARI ADEOLU
ADEBARI ADEOLU
22 YEARS OLD , NIGERIAN,
HOWARD UNIVERSITY
WASHINGTON,DC
USA
STUDENT AND YOUTH ACTIVIST
|
Comments
consolidate your debt.. now! LisaO | Apr 27th, 2009
Debt has becoming an increasingly large problem in recent years. There are many companies who offer debt consolidation services. But, those services may not always be the best option and may involve taking out a loan. If debt consolidation is something you're seriously thinking about, there are good and bad ways to go about it. You can get installment loans and find a decent repayment plan for debt consolidation rather than pulling from your retirement and facing the penalties for it. One thing you should not do is to touch your 401K. Those are your retirement funds, and the penalties for early withdrawal are killer. There are plenty of reasonable alternatives to using your IRA or 401K for relief from your troubles.
You must be a TakingITGlobal member to post a comment. Sign up for free or login.
|
|
