4.1.2.2.3 Effectiveness of external
debt
Contrarily to the ideas developed above, some economists wonder
rather on the ability of external funding to develop a country (since if a
country borrows, it is necessarily to achieve its development projects).
Especially for radicals, external funding can only be
impoverishing for the recipient economy since it is nothing other than a new
manifestation of imperialism at the highest stage of developing capitalism in a
state of perpetual enslavement.
For liberals, external funding is the manifestation of the spirit
of solidarity of the so-called developed countries who generously put at the
disposal of developing countries funds that can enable them to meet both their
savings and development deficit, and thus hoisting them on the royal road to
economic growth and development.
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