Re: How Can We Help Armenia?
Clean Armenian needs (somewhat depends on) fair international monetary practices, also.
People in the US can DEMAND that foreign debt from Armenia (and MANY other countries) be forgiven.
The US has spent OVER a TRILLION on the Iraq 'war'
That is Trillion, not billion.
Four billion would provide ALL people on the EARTH with basic food, medical and housing needs according to the UN (as I know.)
Yet, Armenia is going into major national debt over the relatively minute 'loan.'
Lots of details left out, but that sounds a bit like indentured servitude, to me. Many nations of the world are in the same situation. Thank goodness things are starting to change! I hope that continues.
"Armenia's aggregate foreign debt grew by 13 percent in 1999 and now stands at $876 [1999]
million, slightly less than half of GDP, RFE/RL's Yerevan
bureau reported on 1 February, citing official statistical
data. The authorities estimate that the figure will rise to
$938 million by the end of this year. The Armenian government
and Central Bank will spend a total of $78 million on
external debt servicing in 2000. That figure is roughly one
fifth of projected government revenues. Last year, a total of
$61.6 million was spent on external debt service....i"
Clean Armenian needs (somewhat depends on) fair international monetary practices, also.
People in the US can DEMAND that foreign debt from Armenia (and MANY other countries) be forgiven.
The US has spent OVER a TRILLION on the Iraq 'war'
That is Trillion, not billion.
Four billion would provide ALL people on the EARTH with basic food, medical and housing needs according to the UN (as I know.)
Yet, Armenia is going into major national debt over the relatively minute 'loan.'
Lots of details left out, but that sounds a bit like indentured servitude, to me. Many nations of the world are in the same situation. Thank goodness things are starting to change! I hope that continues.
"Armenia's aggregate foreign debt grew by 13 percent in 1999 and now stands at $876 [1999]
million, slightly less than half of GDP, RFE/RL's Yerevan
bureau reported on 1 February, citing official statistical
data. The authorities estimate that the figure will rise to
$938 million by the end of this year. The Armenian government
and Central Bank will spend a total of $78 million on
external debt servicing in 2000. That figure is roughly one
fifth of projected government revenues. Last year, a total of
$61.6 million was spent on external debt service....i"
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