Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


NZ Help For The World's Poorest Countries

Media Release
Hon Phil Goff
Hon Dr Michael Cullen
Hon Matt Robson

9 March 2000


The Foreign Minister, Phil Goff, Finance Minister, Michael Cullen and Associate Foreign Minister, Matt Robson announced today that the Government would contribute $6.4 million to help reduce the debt of the world's poorest countries.

The Ministers said that New Zealand strongly supported the efforts of the international community to address the massive debt burden of developing countries.

"The urgency of addressing the issue of debt relief is highlighted by the current crisis confronting Mozambique, one of the first countries to receive relief under the Heavily Indebted Poor Countries (HIPC) Initiative. The total debt, public and private, of Mozambique represents over US$490 a person. Its GNP is only US$210 a head.

"There are sound practical and economic as well as humanitarian reasons for alleviating the debt situation of developing countries.

"The current situation whereby the richest countries continue to get richer while the poorest sink further into debt is ultimately a source of tension and instability.

"It's in our interest that the Heavily Indebted Poor Countries can achieve economic development and become active trading partners," the Ministers said.

Developing countries have no debts outstanding to New Zealand. The last remaining debt, with Peru, was forgiven last year.

The Ministers said, "the further contribution by New Zealand to debt relief announced today will help release resources in Heavily Indebted Poor Countries for poverty alleviation and assist them in their efforts to achieve sustainable economic growth."

New Zealand's contribution takes the form of one-off grants of $3.2 million to each of the Trust Funds set up by the IMF and World Bank under the HIPC. An international initiative targeted at the world's poorest countries, the HIPC is linked to IMF and World Bank supported reform programmes.

The Ministers said that this contribution was not at the expense of other expenditure under New Zealand’s Official Development Assistance Programme.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Tax Working Group’s Road Map

Trying to analyse the interim report on the Tax Working Group (TWG) is like trying to review an entire All Blacks game, but at the half- time mark.

With so much still to be finalised, Sir Michael Cullen and his colleagues are going to need all the All Blacks’ fabled finishing skills to get a coherent, fiscally neutral package together by the February 2019 deadline. More>>


Meth Testing Report: Housing NZ "To Right Wrong"

Phil Twyford “Housing NZ acknowledges that around 800 tenants suffered by either losing their tenancies, losing their possessions, being suspended from the public housing waiting list, negative effects on their credit ratings or, in the worst cases, being made homeless.” More>>


No Reshuffle: Meka Whaitiri Removed As A Minister

Meka Whaitiri will be removed as a Minister with immediate effect... The decision was made after receiving a report into an incident that occurred on 27 August in Gisborne, involving Meka Whaitiri and one of her staff. More>>


Pay Equity Bill: Making History For Women’s Pay

The Equal Pay Amendment Bill, introduced to the House today, will make it easier for workers to make a pay equity claim , using a more simple and accessible process within New Zealand’s existing bargaining framework. More>>


Suffrage 125: NZ A Trailblazer For Women

“We acknowledge the work of Kate Sheppard, Meri Te Tai Mangakāhia, and all of the suffragists who tirelessly campaigned for the vote… Today we also need to ask each other: how we can continue to make our country a fairer and better place to continue the legacy of the suffragists.” More>>


Asylum: Refugee Quota Increasing To 1500

“The quota increase will take place from July 2020. In the meantime, we will work to increase the number and spread of refugee resettlement and support services. We need to make sure we’re prepared for this change in policy.” More>>





InfoPages News Channels