The current predicament affecting the world’s most vulnerable countries is only the latest in a long line of events that have led to ‘initiatives’ aimed at lessening the damage caused by the concept of debt. This chapter provides a genealogical understanding of the key initiatives over the years, their reason for existing, but also how they have only resolved issues in the short-term, as proven by the need for whatever initiative then followed. The concept of colonialism is also focused upon and shown how such a concept needs to be integrated into the understanding of all that follows.