African Debt Crisis

In order to catch up with the fast growing progress of the developed countries' economy, a lot of developing countries choose to use debt to accelerate the development of their economy. But who else can know this is a way that Western countries use debt to control the economy of the poor countries or developing countries.(Global) The debt crisis has spread across Africa in the last decade and the reasons that gave rise to excessive African indebtedness in the 1970s and early 1980s, and which caused it to balloon from $140 billion when the crisis emerged in 1982 to over $270 billion in 1990, has been amply documented elsewhere.(Revisited) Global apartheid, also is one of the reasons that caused African debt crisis. Global apartheid manifests itself in many different ways. Its attributes go beyond racial discrimination to include the use of unfair trade, the debt crisis, gender inequality, and religious and political intolerance as a way of enshrining its perpetuation. Also, an obvious situation about poverty in Africa can be seen from 'The ten poorest countries Of The World'. All of them are from Africa.(Top poorest) African people think debt is an easy way to get money and help their economic development. However, they never think about the debt will burden their economy. African debt is a double-edged sword that is used by most of the African countries. Though it is a speedy way to get away from poverty, it can hurt the economy a lot even the economy will be much worse than before. In order to know how to help Africa get rid of debt crisis, people should know its causes, scale, impact and solution. This will let people do their best to help Africa. When people heard this astonished truth, they always curious about what exactly causes the African debt crisis to happen. Causes of the African debt crisis can be easy to divide in three parts: a continuing legacy of colonialism, global apartheid and mismanaged lending. The colonisation of Africa has a long history,