The UN Development Decade and the World Debt Problem

The problem of international debts is, no doubt, the most important issue that the world economy is faced with. It is a hallmark of the deep crisis, that is progressive in character, and generally referred to as ‘the debt crisis’ by many economists and politicians. International debts have reached a level that endangers economic development in the whole world, and nowadays they have hit hard developing countries, especially the poorest ones. They pose a gigantic menace to the development processes of developed and developing countries alike. Since the debt crisis might very quickly create a general crisis all around the globe, a speedy solution to the problem of the world economy is required.