I think you have to consider, if we continue to push these countries for the little they can pay, they will never make enough money to keep up with the interest (Which, I might add, is not far off astronomical, considering), never mind pay us back!
Incidentally, Guye, I found your remark about most third world countries being steeped in corruption highly unfair; Some may be, however, it was the loaner's choice to lend to the corrupt government or regime. You may have a point about investing it ourselves, but still calling the countries an equivalent of a drunken hobo seems harsh.
Also, Im2smart4u, I'm not sure about the state of Europe's affairs, but I am British, and happen to know that our WW2 debt has been paid back, and no payment has been made of the WW1 debt since 1937 (By any countries), and I don't think any countries have asked for it. But... I'm getting off topic here; If you wish to start a discussion about ww1 and 2 debts, why not start a new topic?