Tackling World Poverty Brown's Bid to End Third World Debt Is Laudable Pity the Us Disagrees
Summary
CHANCELLOR of the Exchequer Gordon Brown made a shrewd move when he decided to open up the winter meeting of the Group of Seven (G7) countries, turning it into a headline-grabbing event instead of conforming to the usual pattern of holding it in an out-of-the-way resort with no public or media access. By deciding to add at bit of razzmatazz in London this weekend he was not just making a point about Britain chairing the event. In an election year he was also able to set out his stall by putting on an ambitious enterprise conference concurrent with the meeting which attracted some of the biggest movers and shakers in the global economy.
And in a highly personal way, which might speak volumes about his future ambitions, Brown was able to propel to the top of the agenda an idea that is close to his heart - what might be called a new Marshall Plan for Africa. This envisages a novel financing plan, known as the International Financing Facility (IFF), which would raise dollars-100 billion for the world's poorest countries. Not only would this fund help to alleviate debt but it would increase the flow of aid to countries which need it most. The Europeans are keen on the scheme and want to support it but yesterday Brown received an unwelcome slap in the face when the US delegation rejected his ideas out of hand. They also poured cold water on another of the Chancellor's proposals about revaluing the International Monetary Fund's gold reserves to find the necessary cash to write off the debts of impoverished African countries. It was hardly the best way to reinforce the plea for transatlantic solidarity put forward by secretary of state Condoleezza Rice, but once again the US was simply reminding the world who is boss.See the full content of this document
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Tackling World Poverty Brown's Bid to End Third World Debt Is Laudable Pity the Us Disagrees
Following his recent trip to Africa, where he could see the financial problems first hand, Brown has become something of a standard-bearer for ...
See the full content of this document