posted on Feb, 5 2005 @ 04:14 PM
Today's UK meeting of the worlds seven richest countries has been hailed a great success by the Chancellor of the Exchequer Gordon Brown. The UK has
put debt relief at the top of the agenda for its hosting of the G8 meeting in July and Gordon Brown has gained international backing for his IFF plan,
but the US opposes the UK's plan.
G7 finance ministers have backed plans to write off up to 100% of the debts of some of the world's poorest countries.
Mr Brown said it was a major breakthrough for the international organisations to offer up to 100% multilateral debt relief - "the vast bulk" of money
owed by the poorest countries.
"We could be at the beginning of the final stage of the process where the debts that were owed by the poorest countries, built up over 20 or 30 years,
debts that are simply unpayable in the real world, are finally taken care of," he said.
...But the US says it cannot support Mr Brown's International Finance Facility to boost aid to developing countries.
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This is good news, it's good to see a politician taking the bull by the horns on this issue. No doubt more can be done but in addition to the UK
already overhauling its debt issues and cancelling some outright, it's a good start. It's unsurprising the US opposes the plans though. Seems that
they'll oppose anything that isn't of their own making these days.
I think this is kind of thing Tony Blair meant when he said "If America wants the rest of the world to be part of the agenda it has set, it must be
part of their agenda, too" George.
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