Lord Bauer, House of Lords, makes the following comments to "Letters to the Editor," Financial Times, from a Mr. Skinner: a. Skinner charged Bauer with misunderstanding the debt burden of poor countries. b. Further, these loans are often canceled or rescheduled. b. Skinner claimed that Africa's poverty is externally-caused. Bauer believes that it is domestically-caused by government policies. c. Bauer believes that the poor are at the bottom of the priority list of local rulers. d. Skinner's encouragement of default is counter-productive. Bauer points to the success of Southeast Asia.
Lord Bauer, House of Lords, makes the following comments to "Letters to the Editor," Financial Times, from a Mr. Skinner: a. Skinner charged Bauer with misunderstanding the debt burden of poor countries. Bauer comments that the loans do not increase with inflation and are at zero interest. Further, these loans are often canceled or rescheduled. b. Skinner claimed that Africa's poverty is externally-caused. Bauer believes that it is domestically-caused by government policies. c. Bauer believes that the poor are at the bottom of the priority list of local rulers. d.Skinner's encouragement of default is counter-productive. Bauer points to the success of Southeast Asia.