what is debt overhang

The argument for providing debt relief for the poorest countries relies on the idea?

1. of debt overhang.
2. that creditor governments and institutions are to blame.
3. that much was lent to poorly governed regimes.
4. all of the above.

The answer is 4 (all of the above). Most monies loaned by other governments to poor countries never go towards economic improvement or growth in the poor nation. The people of the poor countries don’t get anything. All the money goes to the dictators and their military people so they can maintain control. What money is left goes into a Swiss bank account for the dictator when he leaves the country. Sometimes he doesn’t leave; he gets killed before he can leave. The World Bank or International Monetary Fund is a farce run by crooked over paid tax dodging tycoons.