October 19, 2004

How to go about Debt Relief?

Writing about web page http://www.washingtonpost.com/wp-dyn/articles/A3095-2004Oct2.html

Also referencing: www.freerepublic.com/focus/f-news/1231695/posts These two articles from the AP wire and the Washington Post show the issues that have been raised by the US and Britain concerning how the world should go about debt relief. The Bush plan involves the issue of grants as opposed to loans from the World Bank while Brown's plan calls on the rich countries to come together and chip in for 100% relief of the poor countries debts. The AP article is more supportive of the Bush plan than the Post article but the AP article was also written before the conference to discuss this issue was held while the Post article was more a synopsis of the conference. The Post article was more critical of the Bush plan because the Bush plan would rely largely on grants from the World Bank that would not be repayed and could weaken the Bank. Brown's plan would not pull so much from the World Bank as from the the strong economies of rich countries. Both articles agree that, in order for the poor countries to climb out of the debt cycle anything less than 100% relief would not be enough.

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