Debt and debt relief (video)
Watch the following video highlighting the impact of debt and debt relief on the economies of Guyana and Uganda produced by the World Bank and answer the questions below.
- Explain the reasons why many less developed countries become indebted in the last decades of the 20th Century.
- Measure the total value of debt owed by the indebted nations.
- Examine the impact on the economies, and on the living standards, of the populations of Guyana and Uganda of being indebted.
- Explain how indebtedness reduced in both countries and the effect of the debt relief.
- Describe how the proportion of the countries' export earnings spent on servicing debt changed as a result of the debt relief.
- Describe the development initiatives that the debt relief allow the governments in both countries to follow.
- Discuss the view that developing countries chose to borrow huge sums and should be held accountable for their decisions.