Should Third World debt be forgiven?

This is an interesting topic; depending on the current situations of the countries, the answers may well vary, and they all make sense, but in my view, the political policy should be flexible, so you don’t have to make such a general rule. Now let me explain the details.     

First, forgiving all debt can create moral hazard. That is, countries will dare to take excessive risks, hoping that their debts will be forgiven. Plus, canceling debt can be unfair to those countries that have repaid it.     

Next, I understand some may argue that forcing to repay their debts disrupts their unstable economies. Certainly, I also believe that under certain unforeseeable and unavoidable difficulties, creditor nations can consider forgiving debts. This includes situations where the debtor country is suffering from extreme poverty, natural disasters, or other crises that hinder them from repaying their debts.           

What I have just mentioned has only outlined the issues: in fact, several other political and diplomatic factors may have a complex impact. So, each creditor country should carefully consider these factors to lay down an optimal policy. Thank you for your attention. [186 Words Type-I]