Monitor: All the News of the World - International comment on the G8 measures to ease Third World debt
Wednesday 23 June 1999
The Nation, Pakistan
WORLD LEADERS hailed the debt relief deal as removing the burden of unpayable loans which were condemning countries to abject poverty. But three years after the international community launched the Highly Indebted Poor Countries (HIPC) initiative, only Bolivia and Uganda have secured relief and the HIPC is regarded as a failure. Recognising their mistake, Group of Seven leaders agreed in Cologne this weekend to relaunch HIPC as a vehicle for broader, faster and deeper relief. But will the Cologne initiative hit the targets missed by the original agreement? What is new is that rich governments now accept that they must accelerate debt relief if the poorest countries are to have any chance of ploughing more money into health and education.
INDIVIDUALLY, SOME of the economics that emerged during the G8 summit may be treated as pious statements of intent. Even the writing off of a major portion of the debt of the poorest nations may be less dramatic when implemented. The chances of these loans being repaid were in any case not very bright. And as with all loan write-offs, the move is unfair to those nations that have repaid their loans.
Economic Times, India
Is the comedy album making a comeback?comedy
Arts & Ents blogs
- 1 What if 35 Palestinians had died, and 800 Israelis?
- 2 Disney heiress Abigail disowns her share of family profits in West Bank company
- 3 The secret report that helps Israel hide facts
- 4 'Women should not laugh in public,' says Turkey's Deputy Prime Minister in morality speech
- 5 Israel's propaganda machine is finally starting to misfire
Led Zeppelin to release alternative Stairway To Heaven after 43 years
New film Old Fashioned is 50 Shades of Grey for Christians, claims its creator
Best movies on Netflix UK and US: 32 films that will end your endless scrolling
Freddie Prinze Jr on 24: 'Kiefer Sutherland was the most unprofessional dude in the world – I hated every moment of it'
Coolio has sold his soul to Pornhub
The secret report that helps Israel hide facts
Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
A day in the life of Vladimir Putin: The dictator in his labyrinth
Putin is 'thuggish, dishonest and reckless', says British ambassador to US
Richard Dawkins tweets: 'Date rape is bad, stranger rape is worse'
Boozy, ignorant, intolerant, but very polite – Britain as others see us
- < Previous
- Next >