Even before the ink has dried on proposals to relieve poor countries’ debts to international lenders, the deal agreed by the G8 at Gleneagles is under threat. [For Futher Reading…......]
What am i reading? Does this mean that there would be the likelihood of ammendment of the agreement?
This i say because
In a document that has been leaked to the activist group Jubilee Debt Campaign, Belgian IMF representative Willy Kierkens is quoted as telling the IMF executive board that “rather than giving full, irrevocable and unconditional debt relief… countries would receive grants”.The IMF would then be able to withdraw the grants if countries failed to meet IMF conditions such as implementing the Poverty Growth Reduction Strategy which is a pre-requisite for receiving debt relief.
Well just like me,
The proposals have also alarmed African officials at the IMF, if the leaks are accurate.The three African directors representing sub-Saharan Africa say any change to the G8 debt deal “would delay benefits” and that it “does not seem appropriate that debt cancellation would reintroduce conditionality”.
If the do really want to help, the should just do it. Otherwise what is all this nonesense?