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June 12, 2005

Towards Jubilee

More than expected, less than hoped - this seems to be the summary of the response to the G8 finance ministers' meeting yesterday.

It is nonetheless a good start, following on from promises made at the G7 finance ministers meeting earlier in the year. £22 billion is available to write off 100% of debts of the 18 countries who have already qualified. They have qualified through achieving targets of "good governance" and "tackling corruption." It will allow these countries to spend money on education and health that would otherwise have been given to servicing debt.

My adopted second home country of Burkina Faso is one of the countries that will qualify.

Now, we need to see more action on vastly increasing and improving Aid, and especially on improving justice in Trade for poorer countries. Resolving issues of in justice in trade would give more help than all the aid we give.

Posted by Keith at June 12, 2005 08:04 AM