Poverty and Debt in Third World Countries that directly or indirectly Essay

poorness and Debt in Third World Countries that directly or indirectly work to the benefit of developed countries and how the principles of Catholic Social Doctr - Essay ExampleIn year 2000, the Church celebrated the Jubilee Year in the background of an escalating global debt crisis, mindful of the terrible price that the worlds poor were paying for debts contracted by their governments without their knowledge, some(prenominal) little their consent. They are tranquillise paying, with blood, sweat and tears, seven years later on Jubilee, despite the global movement against this debt burden.Jubilee USA3 has already stated, dont owe, wont pay But despite the defiance, in real life, the poor are still paying for debts of the rich, and volition continue to do so as long as their leaders and governments bow down earlier dictates of powerful multinationals and multilateral agencies including the IMF, WB and WTO. This is one almost overwhelming obstacle that the global poor hit to overcome to free themselves from immoral and illegal debts.The Churchs social teachings consider us all as members of the kind-hearted community that have the right to human dignity and common good. But at the same term the Church takes sides by proclaiming its preferential option for the poor, especially vulnerable sectors such as women, children, and the elderly. This is especially admittedly regarding the issue of debt. The overwhelming majority of people in poor countries suffer when so much of their resources are automatically channeled to debt servicing, instead of being used to fight poverty, ensure the delivery of basic services and furnish more jobs, to mention only a few much needed programs. International Debt 3For the poorest of the poor, debt was and still is literally a matter of life and death. Of all continents, Africa is probably the worst hit by the unite blows of poverty and debt, two problems that feed off each other. Africa managed to score a few victories i n upward(a) the peoples health and lives, only to slide back due to structural adjustment programs imposed by the IMF-WB as a condition to approval of more loans for poor countries.While many African countries succeeded in improve their health care systems in the first decades after independence, the intervention of the World Bank and IMF reversed this progress. In Kenya, for example, child mortality was reduced by almost 50% in the first two decades after independence in 1963. Across sub-Saharan Africa, the first decades after independence saw significant increases in life anticipation, from an average of 44 years to more than 50 years.In the 1980s and 1990s, however, African governments had to give birth control over their economic decision-making in order to qualify for World Bank and IMF loans. The conditions attached to these loans undid much of the progress achieved in public health. The policies dictated by the World Bank and IMF exacerbated poverty, providing fertile gro und for the scattering of HIV/AIDS and other infectious International Debt 4diseasesConsequently, during the past two decades, the life expectancy of Africans has dropped by 15 years. 4No Relief from Debt ReliefMany people pinned their hopes on debt relief, specifically on the Heavily Indebted Poor Countries (HIPC) initiative, which was set up for countries whose debts were quadruple their yearly export fee that were usually channeled to