As most foreign aid often benefits the door more than the receiver, developing countries should refuse to repay their debts. Do you agree?

Repayment of loans taken by borrowers, be they individuals or nations, is obligatory and mandatory. Rich nations have been lending
money
to poor ones for several decades ones from loan transactions.
However
,
this
essay does not support the argument that poor nations must refuse to repay the
money
that they have borrowed from rich nations.
On the other hand
, loans benefit the donor nations more than the receiving ones is inherent in the process of lending.
For example
, loans advanced by the International Monetary Fund and World Bank, are under the control of deve
loped cou
Suggestion
developing
ntries. Poor nations receive huge loans for projects proposed by these financial agencies, many of which cater to the needs of the donors themselves.
Moreover
, developing nations spend huge amounts of
this
borrowed
money
to import machinery and arms ammunition from deve
loped nat
Suggestion
developing
ions.
On the other hand
, all these reasons are not enough to argue ethically that loans taken should not
e pai
Suggestion
not be
note
not we
d back. A loan is a loan, and irrespective of how it was spent, it should be paid back. To maintain good relations between the donor and the receiving nations, conditions of agre
ement mus
Suggestion
the agreement
t be followed religiously. To abide by laws is vital for
the
Suggestion
to
very existence of mankind and, as
such
, a debt should not turn out to be a bed
deb
that which is below standard or expectations as of ethics or decency
bad
t. Having looked at both the sides of the issue, it can be safely argued that since coexistence is the buzzword today, refusing to repay borrowed
money
is morally indefensible. It will
also
cause difficulties in getting help in times of need.
Submitted by lovepreetraikhana on

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