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| quote: | Originally posted by St_Andrew
Good news i guess, kinda unfair to all other countries who would need it too tho. |
Actually, there has been some recent developments and on-going negotiations among G7 nations on the subject:
| quote: | Last weekend Britain said it will write off debts owed by the poorest countries, an announcement that was strongly backed by several international non-governmental organisations (NGOs), who had urged the move for years. But differences remained between G7 countries over how to finance the plan, with some officials -- who are gathering in Washington this weekend on the sidelines of the IMF and World Bank annual meetings -- saying they cannot commit new resources because of budgetary constraints. World Bank President James Wolfensohn had welcomed the UK plan, but advised the rich nations to find alternative funds to replace the excused debt if they want his institution and the IMF to have the resources to be able to continue lending.
http://www.globalpolicy.org/socecon...002norelief.htm
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Not quite as positive, but at least the issue is on the table:
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Finance ministers from the world's richest nations have delayed a plan to write off 100 percent of debts owed by the planet's poorest countries, quashing hopes those nations could start spending more on services like health and education and work toward ending their extreme poverty. In a press release after a meeting Friday, officials from the Group of Seven (G7) countries said the issue needs further discussions and that they will report on those talks by the end of the year.
http://www.globalpolicy.org/socecon...002norelief.htm
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Creditors to forgive up to 80 per cent of Iraq's debt,
