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Third world debt can obviously affect those countries who are owed money by third world countries. Being owed huge amounts of money from debtor countries can make for some unbalanced budget sheets in countries who might have to resort to other means in order to make up for the debt that is uncollectible or to try and collect it. What is even more confusing than being owed money from third world countries, is listening to the explanation from creditors who loaned third world countries vast sums of money knowing that those third world countries would never be able to repay the loan for many reasons, known and unknown.

How third world debt affects us all is that those same creditors who would refuse a working citizen of their own country a loan for a car, would loan millions to third world countries who have the credit worthiness of an indigent citizen of their own country. Those sums loaned out as charity or third world debt have to be met from working people in the creditor’s country. Those taxed for working will have to make good third world debt or the charitable loans of creditors who even refuse to admit that they were making bad loans to third world countries.
In the meantime, people living in debt ridden countries are finding it hard to maintain a proper standard of living while those who took out the loans are often escaping from their third world countries to retreats where they can’t be reached leaving the inhabitants of the debt ridden third world countries to have to pay the loan that they may not even be aware they took out. There are other considerations in assessing how third world debt will affect or has affected all of us. In many third world countries, billions were charged to them by the major powers who were controlling or managing the third world country for other than financial reasons. Facing colonial debt is a very hard situation since regardless of how much is taken out of the treasuries of third world countries, the debt remains the same or even grows due to usurious finance charges assessed against them.
How third world debt affects us all is that the changing political situation in third world countries makes it difficult for debts to be collected and written off. When one country charges another country for defending the other countries borders, assessing the debt and paying it back can become a disturbing situation. In the meantime, stock markets fluctuate and move based on how those vast sums of money taken from wealthy lenders who might control mutual funds in lending nations are going to be paid back.

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