Essay development

Moreover, most of the poor countries rely on selling agricultural products and raw materials to rich nations and buying industrialized products from them in a huge financial deficit. Consequently, they borrow a significant amount of money from the World Bank to try to improve their broken economies, but sometimes the money disappears with no significant changes and they cannot even pay the interest to the bank. Regarding this issue, last year the G8, which is comprised of leaders of the eight richest nations, decided to forgive billions of dollars worth of debt owed by the world’s poorest nations. In addition, they developed adequate loan programs to financially assist those countries.

Essay development

essay development

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