Author Topic: LIVE8 CANCELLED!!!!  (Read 1025 times)

Frank Gallagher

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  • Posts: 4792
« on: June 11, 2005, 09:36:00 am »
Or maybe it should be, seeing as it's now irrelevant. (Not that it was relevant in the first place) Although I'm not sure what a photo of Capital Heights has to do with anything.....
 G8 reaches deal for world's poor
   <img src="" alt=" - " />
 The main beneficiaries of the deal could be Africa's poor
 The world's eight richest countries have reached a debt relief deal to help the world's poorest nations.
 The move provides relief for 18 nations, mostly in Africa, freeing up revenue for spending on health, education and development.
 The agreement was announced at a meeting of G8 finance ministers in London on Saturday.
 Britain, which will host a summit of G8 leaders next month, has vowed to make poverty reduction a priority.
 The plan, which was devised by the UK, secured the backing of the US administration on Friday - paving the way for its adoption at the London meeting.
 Under the deal, the World Bank, the International Monetary Fund and the African Development Fund will write off 100% of the money owed to them by 18 nations.
   This is not a time for timidity, this is a time for boldness
 Gordon Brown
 UK chancellor of the exchequer
 Q&A: African debt deal
 List of high-debt countries
 Announcing the deal, UK Chancellor of the Exchequer Gordon Brown said up to 20 others countries could be eligible if they meet strict targets for good governance and tackling corruption.
 The total package could be worth than US$55bn.
 "This is not a time for timidity, this is a time for boldness," Mr Brown said.
 Earlier John Nagenda, an adviser to Ugandan President Yoweri Museveni, told the BBC it was time for rich nations to deliver on their promises.
 "I should be more apologetic and say please help us but where I come from we believe that if you are better off than someone else you help them. It's as simple as that - it's a moral duty."
 Ghanaian Environment and Science Minister Christine Churcher said that if the debt was cancelled, her country would spend the extra money on education, health and improving the water supply.
 The G8 countries are United States, Canada, Britain, France, Germany, Italy, Japan and Russia.
 The 27 countries who are eligible for debt relief under the HIPC (highly-indebted poor countries initiative) and the 18 who have reached completion point in bold: Benin, Bolivia, Burkina Faso, Cameroon, Chad, Democratic Republic of Congo, Ethiopia, Gambia, Ghana, Guinea, Guinea Bissau, Guyana, Honduras, Madagascar, Malawi, Mali, Mauritania, Mozambique, Nicaragua, Niger, Rwanda, Sao Tome Principe, Senegal, Sierra Leone, Tanzania, Uganda, and Zambia.
 The 11 countries who theoretically qualify for debt relief but have not been allowed to join so far are: Angola, Burundi, Central African Republic, Ivory Coast, Comoros, Congo, Liberia, Burma, Somalia, Sudan, Togo.
 Jubilee Debt Campaign argue that the figures show that another 24 countries qualify as needing full debt relief if they are to have the resources necessary to meet the Millennium Development Goals: Azerbaijan, Bangladesh, Cambodia, Equatorial Guinea, Eritrea, Georgia, Haiti, India, Indonesia, Kenya, Korea, Kyrgyz Republic, Lesotho, Nepal, Moldova, Nigeria, Pakistan, Sri Lanka, Tajikistan, Uzbekistan, Vanuatu, Vietnam, Yemen and Zimbabwe.