2005-07-27

G8 and the debts in Africa, or "Africa is poor because its investors and its creditors are so unspeakably rich."

After reading the comments in the mainstream media regarding the latest G8 summit and the promised debt relief of African nations some questions arise:
  • What are the conditions that the African nations have to agree to?
  • Can all African nations sign up for debt relief?
  • When the debts to the IMF and World Bank are cleared are the nations 100% debt-free or are there still loans to be paid to private banks?
  • Were the reasons for the accumulated debts discussed in order to prevent such a development in the future?
The solution to Africas poverty surely lies in giving them control over their own resources.

Read Naomi Klein’s comment on African debt and John Pilgers The G8 Summit: A Fraud And A Circus

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