Should Developed Countries Provide Debt Relief to Indebted African Countries?

The indebtedness of sub-Saharan African countries is said to be one of the greatest problems faced by them in present times. [Omole 2003:1] Not only has it led to economic stagnation of these countries and the increase in global inequality, it has further increased the number of people living in extreme poverty and reduced the ability of developing countries to have a strong political and economic foot on which to stand. The most vulnerable groups within these countries have suffered and continue to suffer, and Africa remains the poorest, least developed and most technologically backward continent in the world, even though it is abundant in raw and human resources. [Mulinge 2003:23] Many ideas have been put forward to proclaim the responsibility of this enormous debt but our main concern should lie with whether Africa can continue to survive with this overwhelming burden of external, multi-faceted debt and should debt-relief be given, can Africa remain debt-free?…