I'll agree that $283 billion of debt for this part of the world is not repayable. The problem with the whole issue is that no one at the UN takes the issue any further than forgiving debt and asking for more money. They have created tribal welfare states and allowed genocide to continue. For these economies and in local currencies, $283 billion is a LOT of money. Where did it go? If someone would stand up and address the real issue head on I wouldn't have a problem forgiving the debt and helping out. But not until this happens.
Here's a question:
If these loans are denominated in US Dollars, and then the loans are defaulted, Does this hurt the Dollar and help the Euro?
Is this an effort of the anti-american UN to hurt the USA by helping the Euro?
Who wants to bet the corruption in these loan programs will dwarf the oil for food program.