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UK takes the lead in global debt relief
This is truly incredible:
http://news.bbc.co.uk/2/hi/uk_news/politics/4173567.stm Please take 2 minutes to write your MP and ask them to join with the UK in this endeavour (If you don't know who your MP is, use google). A quick note will take you almost no time. Rule Britania! |
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Quote:
Hon. Hedy Fry, M.P. Constituency Office (Vancouver Centre) 106-1030 Denman St. Vancouver, BC V6G 2M6 Phone: 604-666-0135 Fax: 604-666-0114 Email: [email protected] or Hon. Hedy Fry, M.P. Ottawa Office Room 583, Confederation Building House of Commons Ottawa, Ontario K1A 0A6 Phone: 613-992-3213 This is one of the better ideas I've heard for reducing poverty globally in a long time. Third World nations are currently in a catch 22 where they need to borrow money from such institutions as the IMF and WB for development. The problem is that the money comes with conditions and doesn't allow these countries to exercise protectionist measures that allow domestic industry to be able to develop to a point where it can compete globally. On top of that many of these nations end up accumulating so much debt that large portions of their GDP are going towards nothing more than servicing the interest charges without being able to pay off the principal. (Waits for SEAN! to lay a smack down) Quote:
Last edited by Senior; Jan 15, 05 at 01:19 PM. Reason: to add more content |
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Mandella set to back the plan and publicly ask other western countries to join:
http://news.bbc.co.uk/2/hi/uk_news/politics/4178505.stm |