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2007 AM - Mrs. Amanda Rowlatt: Africa’s re - indebtedness following debt relief initiatives
Achieving the MDGs will require a large increase in resources, and all forms of development financing have a role to play. Borrowing can be a good way for countries to raise finance for development priorities. When countries put the money borrowed to productive use, they benefit from faster economic growth and increased investment, delivering effective social services. But rapid or excessive borrowing contributes to unsustainable debt, which can burden an economy, especially where financial systems are relatively weak. Debt service also diverts money away from investment in health, education and infrastructure.