World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search


G-8 Debt Relief Initiative "a Major Step"

G-8 Debt Relief Initiative "a Major Step" Against African Poverty – UN Envoy

New York, Jun 13 2005 7:00PM

The G-8 agreement on debt relief for developing countries announced by the finance ministers from the world's largest industrial nations is a "major step towards alleviating poverty in Africa," a senior United Nations official said today.

"These countries have been facing the challenge of a huge, unsustainable debt service payment," said Under-Secretary-General Anwarul Chowdhury, who is the UN High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States.

"Consequently, their economic growth and development has been stunted." Mr. Chowdhury said in a statement released at UN Headquarters in New York Monday.

While welcoming the agreement, Mr. Chowdhury said that he hoped the G-8 initiative would be accomplished fully in a short time frame.

"Only 100% debt cancellation would free the resources needed in LDCs (landlocked developing countries) for investment in health, education and for fulfilling the basic needs of the population," he said.


© Scoop Media

World Headlines


Rohingya Muslims Massacred: Restrictions On Aid Put 1000s At Risk

Amnesty: The Myanmar authorities’ restrictions on international aid in Rakhine state is putting tens of thousands of lives at risk in a region where mainly Rohingya people are already suffering horrific abuses from a disproportionate military campaign. More>>


Werewolf: Gordon Campbell On North Korea, Neo-Nazism, And Milo

With a bit of luck the planet won’t be devastated by nuclear war in the next few days. US President Donald Trump will have begun to fixate on some other way to gratify his self-esteem – maybe by invading Venezuela or starting a war with Iran. More>>


Victory Declared: New Stabilisation Funding From NZ As Mosul Is Retaken

New Zealand has congratulated the Iraqi government on the successful liberation of Mosul from ISIS after a long and hard-fought campaign. More>>

Gordon Campbell: On The Current US Moves Against North Korea

If Martians visited early last week, they’d probably be scratching their heads as to why North Korea was being treated as a potential trigger for global conflict... More>>


Gordon Campbell: On The Lessons From Corbyn’s Campaign

Leaving partisan politics aside – and ignoring Jeremy Corbyn’s sensational election campaign for a moment – it has to be said that Britain is now really up shit creek... More>>


  • Pacific.Scoop
  • Cafe Pacific
  • PMC