Saturday, June 11, 2005

The rich agree on some relief for the poor !

Four weeks before the Gleneagles summit G8 reaches deal for world's poor, with 100% debt write off for the poorest country backed by more fairness in trade (improving infrastructure and removing protectionism), doubling aid over the next ten years, help on AIDS treatment (universal treatment by 2010) etc...
The aid is aimed towards providing and improving infrastructure of health, education and eradicating poverty. Transparency is an absolute necessity for continued aid and debt relief to tackle corruption.
No decision on the IFF has been taken (with opposition of the US) though there are possibilities of pilots with Germany and France. It would include countries that have pledged for their aid to reach 0.7% of GNI and would work in partnership with the Bill Gates foundation and the WHO.
The sale of gold by the IMF has been reserved for the future, rather a commitment by the donor members of the IMF to provide the extra resource required has been proposed.
According to Gordon Brown in his press conference, the agenda for the Gleneagles summit would be aid, debt relief, climate change and trade justice.

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