Over 1 billion adults and children in the 21st century living in poverty can't even sign their own name, as 120 million children are without education as we speak. Today I am going to speak about how foreign bank loans are killing people in third world countries, by loaning copious amounts of money to the community that they can't pay back. All third world countries are paying so much interest on their loans that they can't supply essential services for the population, this debt is serving people in first world countries to help keep them stay rich at the expense of people in third world countries. We need to cancel third world debt so we can save these people from world hunger and death.
Poor countries only exist for one reason, that foreign banks are loaning far too much money internationally, to provide recourses for other countries like roads and buildings. As previously mentioned, banks are demanding too high of an interest rate on their international loans. This rate is far too high, and is causing countries to become unable to pay the debt back as it has reached over 4 trillion dollars. The amount of debt and interest accumulated over time is now at a point where is can't be repaid. Third world countries are doing everything they can to repay their debt. This includes sacrificing essential services to the community so they are able to pay some debt back. As a result of this, over 6 million children are dying each year due to lack of clean drinking water and food. Therefore cancelling third world debt would save many lives and allows third world countries to provide the community with essential living services.
The Australian campaign to stop third world debt is coordinated by the Australian council for international development. As stated earlier, the campaign includes over 60 members, to help cancel third world debt. The Australian council organises public awareness programs including fundraising events like...