Debt Relief Set Back at G7

[Katey]

Statement from Jubilee USA

It is with some disappointment that I report to you that the G-7 have failed to take action on debt cancellation today. The section on debt from the statement just released by G7 Finance Ministers is just two lines, and it reads as follows: "We are now committed to addressing the sustainability of debt of the poorest countries by making progress on debt relief and grant financing. We will prepare a progress report on these efforts by the end of the year." It is a vague statement, and the G7 have failed to act today on full debt cancellation for impoverished nations. This was not wholly unexpected -- news reports in recent days highlighted strong disagreements within the G7 on how to The US retains the presidency of the G8 through the end of the year. G7 Finance Ministers meet again in February 2005. These are dates around which we will push forward. We will see 100% debt cancellation. The delay is a real setback. But it will not stop us.

See the full statement at: http://www.treas.gov/press/releases/js1979.htm

Reaction from Jubilee USA at :http://www.jubileeusa.org/jubilee.cgi?path=/press_room&page=october1_failure.html

 

[youtwohearts]

I would have liked a better report.

 

[Katey]

ya I suppose it really was not all that unexpected but still..would have liked a much much better report

 

[BostonAnne]

I was hopeful that today was going to be successful. I'm getting sick of the delays.

 

[Se7en]

we should be realistic. as long as the G7 or G8 (however many fookin numbers are in that group) still exists in its current state debt will never be relieved. these countries will be raped until there is nothing left and then be tossed into the trash heap of history. regardless, i support the quest for debt relief/cancellation, but we must realize that it will take much more than pleas to this group to make a significant change in our world.

-> 7

 

[Jamila]

NEVER GIVE UP - JUST KEEP ON PUSHING!

I have learned to always take what politicians say with a grain of salt - especially those on the global scene.

While we all had some more hope that maybe the G8 would see the BENEFIT FOR THE WORLD COMMUNITY IWITH FULL DEBT CANCELLATION FOR DEVELOPING COUNTRIES, I would simply encourage all of us to whom this issue has been one that we firmly believe in and work very hard to achieve, to never give up and to keep on pushin' (as Curtis Mayfield said)

We just must continue to believe that Peace with Justice will one day rule this earth....

THE GOAL IS SOUL....

 

[Se7en]

We just must continue to believe that Peace with Justice will one day rule this earth....

THE GOAL IS SOUL....

i could not agree more.

peace and justice will have its day...our task is great and the struggle will be tremendous however.

 

[The Disciple]

Another interesting fact...US wants 90% of Iraqi debt forgiven, Germany and France only want 2 pardon 50%....