(June 14, 2004) The leading industrial powers plan to help Africa by developing an anti-Aids vaccine and training thousands of new peace-keepers, but did not come up with the hoped for breakthrough on forgiving debt for the world’s poorest countries, almost all of them African. The announcements came as part of an "Africa Outreach" at the final session of the G8 summit that was attended by six African heads of government. Debt of the 42 poorest and most indebted countries totalled $35 billion, Irungu Houghton, an Oxfam spokesman said. "If G8 leaders are willing to write off $90 billion for Iraq, why not a third of that for Africa?
Other News Sources
Iraq debt is up to creditors: IMF
(June 14, 2004) The International Monetary Fund will not make a recommendation on forgiving Iraq’s debt, IMF Managing Director Rodrigo Rato said today, calling it a decision for Iraq’s creditors.
UN failed to refute Saddam propaganda, former official says
(June 12, 2004) Oil-for-food program: Co-ordinator says colleagues blamed U.S., Britain for Iraqi suffering.
World powers leave divided on Iraq debt
(June 11, 2004) World leaders broke up a three-day summit Thursday without bridging a deep rift over U.S. President George W. Bush’s proposal to forgive the vast majority of Iraq’s $US120 billion debt.
Russia to consider Iraqi debt as Paris Club member
(June 11, 2004) Russian President Vladimir Putin, speaking at the G8 summit on Sea Island, said that Russia will not make any unilateral decisions on writing off Iraqi debt, Itar-Tass agency reported on Friday.
Call for 100 percent debt cancellation at G8 summit
(June 11, 2004) Religious leaders called on the Group of Eight industrial nations to cancel all multilateral debts owed by heavily indebted poor countries (HIPC), fueling speculation that G8 leaders might forgive a majority of Iraq’s $120 billion debt.
Schroeder seeks work in exchange for debt relief
(June 10, 2004) German Chancellor Gerhard Schroeder said his country wants a share of Iraq reconstruction orders worth $18.4 billion in exchange for canceling parts of the Arab nation’s outstanding debt.
ELCA presiding bishop joins call to G-8 for debt cancellation
(June 10, 2004) More than 250 U.S. and international religious leaders called on the leaders of the G-8 countries to cancel debts carried by the world’s most indebted poor countries fully.
G8 nations agree to reduce Iraq debt
(June 10, 2004) Eight industrialized nations say debt should be cut, but do not reach any conclusion on how much.
Debt relief bread for Iraq, crumbs for Africa
(June 10, 2004) African countries have waited for more than two decades for debt cancellation. Now they are being offered a pittance as a sweetener to persuade other countries to back the U.S. proposal on Iraq debt.
Africa crashes rich nations’ party
(June 10, 2004) Group of Eight (G8) leaders on Thursday issued a day pass for their rich nations club to counterparts from Africa, on the last day of an annual summit clouded by new transatlantic squabbles.
G8 fails Iraqis on Saddam’s odious debt
(June 10, 2004) There has been intense speculation that the G8 summit will see a dramatic move on Saddam’s $120bn debt, but the G8 countries have not even put the issue on the official agenda.
U.S. to press G8 for relief of Iraq debt
(June 9, 2004) The Bush administration will push fellow members of the G8 summit in Georgia to forgive Iraq its $120 billion in external debt, the Financial Times said.
Asia ponders environmental price of hydro power
(June 7, 2004) Laos is often described as south-east Asia’s future battery, whose hydropower potential could fuel regional economic growth, especially in its more developed neighbour, Thailand.
Ban corrupt firms, urges Manuel
(June 4, 2004) Companies that pay bribes to African officials should be named and shamed," and banned from participating in further contracts on the continent, finance minister Trevor Manuel has urged.


