The Guardian: US and UK's position on 100 % debt relief to Africa
Regional-USA, Economics, 6/3/2005

The US opposes the UK plan to write off 100% of the African countries debts, the UK The Guardian reported today.

The report quoted chancellor Gordon Brown saying "there was no justification for Africa to be weighed down by debts from 20 or 30 years ago and he proposed erasing all debts African countries owed to multilateral institutions such as the World Bank, the African Development Bank and the International Monetary Fund. "

The report added "While in agreement on the need for relief of Africa's World Bank debts, Britain and the US differ on the means. Mr Brown and Mr Blair think rich countries should pick up the debt servicing bill, but the Bush administration wants the cost to be taken out of direct aid budgets, with the consequence that recipient states do not receive any more funds."

Previous Stories:
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  Ivory Coast praises King's decision to cancel poor countries debt   (3/16/2004)
  Nashashibi: Major economic problems face the Arab states; stronger reform needed   (1/6/2004)
  King Mohammed at World Summit urge canceling debt, not wasting resources   (9/3/2002)
  The practice of lending to developing and underdeveloped governments should end   (5/25/2002)
  Algeria thanks Tony Blair for canceling poor countries' debts   (1/10/2000)
  Morocco calls for urgent measures to alleviate debts of poorest countries   (5/24/1999)
  World bank expresses guarded optimism about Africa's growth   (4/29/1999)
  Arab development bank specifies $120 million for Africa   (1/20/1999)

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