The following text was the basis of a presentation by Tarek El Diwany under the title "Third World Debt" at Cambridge University's "One World Week" in February 2002
One kind of terrorism hasn't been making the news recently. Its weapon is debt, and it is a most efficient killer."Relieved of their annual debt repayments, the severely indebted countries could use the funds for investments that in Africa alone would save the lives of about 21 million children by 2000 and provide 90 million girls and women with access to basic education"UNDP Human Development Report 1997, p. 93
The poor nations of the world are told that if they borrow and invest wisely, they will be able to repay their debts and more. But they've been hearing this for fifty years, and the debt just keeps on growing.