I have posted this to let you all know about the sad state of countries that are in extreme debt.
This all has to do with the TED Talks project we have been working on in class for the last 3 months or so. Mr. Fisher asked us to write a post on what we had learned form our research.
The Research
So here it goes: When countries in Sub-Saharan Africa finally gained independence, they were doing really well. The life expectancy was 45-50 and over. They were building hospitals and schools. Then along came the World Bank. The World Bank offered to give these countries a loan. The countries agreed to take the loan. Soon after, the life expectancy went down drastically, and all the work the countries did between taking the loan and their independence vanished. All this happened because of the conditions the countries needed to meet before they got the loan.
Above is a real story-it is also an example of what can happen to a country when it takes a loan. I’m not saying loans are bad, just that you need to make sure you will be able to eventually pay them off.
When a country is really deep in debt, it might lower the standards of the things they produce to attract investment and cut the costs. They might fire a bunch of people that work for them, and/or lower the pay. When a country does this, a brain drain happens. Brain drain means that all of the educated people leave to find better paying jobs.
When the standards are lowered, the schools and health care might disappear - for the poor. If you put these things together they make poverty. Poverty causes many diseases, homelessness and hunger. 25 000 - 30 000 people die a day from not having enough food. That is like have someone die every 3 1/2 seconds!
I have found over 50 organizations that are helping people in poverty. Some of the programs they run include food for education, child sponsor, and microfinanceprograms. These are all working well.
There is lots being done for the people in the debt laden countries, but not much for the countries itself. I have learned that there have been a few reductions from the debt that some countries owe, but no complete reductions.
That is all I cantell you without telling you my whole presentation. If you really want to hear it I guess you have to come to Snow Lake on Tuesday April 15th.
