Third World debtors paid 993 billion dollars more last year than they received in new loans just to service their debt. Economic progress by the Third World has been mixed, from a mini- boom in Southeast Asia to further impoverishment in Africa. The figures on the cash drain from Third World countries are mushrooming rapidly. This is a prime indicator of the strain that the global debt is putting on the Third World. The debt of the Third World is 50 billion dollars and growing. Greater efforts are needed by the industrial nations to reduce Third World debt.
Third World debtors paid 50 billion dollars more last year than they received in new loans just to service their debt. Economic progress by the Third World has been mixed, from a mini- boom in Southeast Asia to further impoverishment in Africa. The figures on the cash drain from Third World countries are mushrooming rapidly. This is a prime indicator of the strain that the global debt is putting on the Third World. The debt of the Third World is 993 billion dollars and growing. Greater efforts are needed by the industrial nations to reduce Third World debt.