As most foreign aid often benefits the donor more than the receiver, developing countries should refuse to repay their debts. To what extent do you agree or disagree?
It is irrefutable that international aid gives it tremendous benefits to manage the country in well mannered and the tendency of donors brings numerous benefits, usually support for some developing nations to overcome many problems in the worst condition. Rich nations have been lending bucks to poor ones for several decades once the loan transactions have been completed. However, I endorse the statement, which I would like to explicate at length in the paragraph to come.
To begin with, there are ample situations in which countries face many obstacles when they have to repay money that they received from outer sources. Put in other words, due to an uncertain crisis, most countries take funds only to control the situation easily, so international aid must be helpful for appropriately maintaining the infrastructure of nations. For instance, during the COVID-19 pandemic, India took some funds as a debt from a wealthy country; after that, when the infection was controlled, India repaid the bank loan amount with high interest; as a result, the relationship between the two nations must be refined and enhanced due to honesty, thus leads to other country put back the interest to India to maintain the sustainability between them.
However, the developing nations also have plenty of benefits and reserve their funds to protect the world from destitution, but in the case of poor countries without financial help, they cannot get out of the circle of poverty. In other words, the rich nation has an opportunity and benefits from creating a new market worldwide. To illustrate, in a war situation or epidemic, every poor nation needs possible aid from others, thus leading the country will improve its economic structure and feed the residents without extensive hurdles. To add, by helping the nations, the relationship will be better, and borrowing funds must be back to the source for better understanding and communication with each other.
To put it in a nutshell, I pen down saying that due to these practices, poor countries may grow dependent on the rich nation, so poor country needs to invest in developing a strong relationship with others.
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