To see what other people thought of various poverty-related issues, our team created a blog (in essence an online journal that allows users to comment on the entries) at http://adollaraday.blogspot.com. On this site, we have collected several of the best blog entries and comments, and placed them in various sections. In these blog sections, posts refers to original blog entries, while comments refer to user comments to these entries.
This blog section containst one post, about the use of debt relief in developing nations.
Government Post #1: Debt Relief
The Post (November 13, 2005):
While I was reading about international aid (sometimes known as Official Development Assistance) from developed countries to poorer ones, I noticed that one thing that may be even MORE beneficial to poor governments than loans and grants is debt relief.
Comment #1: (Respondent #1)
I read in the newspaper recently that the U.S. has promised Pakistan, in the wake of its killer earthquake, "$3 billion in aid, rescheduled $3 billion in debt and canceled an additional $1 billion in debt."
Comment #2: (Respondent #2)
I have read somewhere else that most of this aid is in the form of 'low interest' or 'no interest' loans. I would love to know if that is correct.
Comment #3: (Respondent #2)
According to Bloomberg News (Nov 21) the total aid pledged to Pakistan is $5.8 billion with $3.8 billion of it consisting of low interest loans.
Comment #4: (Respondent #1)
I stand corrected, [Respondent #2]. The numbers I cited were the U.S.'s gift to Pakistan as a reward "for being a vital partner in Mr. Bush's campaign against terrorism," according to the New York Times.