In the boom years of 1990-1997 developing countries paid more in debt service than they received

May 9, 2015

"In the boom years of 1990-1997 developing countries paid more in debt service than they received in new assistance." - "Africa pays out $13.5 billion in debt service every year." - "Africa spends four times as much on debt repayment

 

Source: Curt Tamoff and Larry Nowells. Foreign Aid: An Introductory Overview of U.S. Programs and Policy. Congressional Research Service, The Library of Congress. CRS Report to Congress received through the CRS Web. Last updated April 15, 2004. Accessed November 10, 2004 at http://fpc.state.gov/documents/organization/31987.pdf

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