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Causes of the Debt Crisis - Global Issues

"Third world debt has long been recognized as a major obstacle to human development. Many other problems have arisen because of the enormous debt that third world countries owe to rich countries. Debt has impeded sustainable human development, security and political or economic stability. How has this happened?" (Note: it seems this odious and illegitimate "Third World Debt" is cited as one of the reasons for the GATS (???) by the UN in document A/RES/44/232 )