Tuesday, June 20, 2006
Debt relief for world's poorest nations,most of which are in Africa
At the Gleneagles, Scotland summit last year, the most powerful nations agreed on 100% cancellation of the world's poorest countries; most of which are in sub-saharan Africa. On one condition though. The said countries had to complete a pre-requisite point which could be summarized as being able to maintain an economic stability and building the foundation for sustainable economic growth.
Here's a list of some of the countries which have successfully reached the completion point:
Benin, Bolivia, Burkina Faso, Ethiopia, Ghana, Guyana, Honduras, Madagascar, Mali, Mozambique, Nicaragua, Niger, Rwanda, Senegal, Tanzania, Uganda and Zambia.
“We have secured the total votes necessary to enact the Multilateral Debt Relief initiative,” said World Bank President Paul Wolfowitz. “Countries will now be able to put more resources into programs that directly help those who need it most - the poor who need better education, better health services and greater access to clean water, for example.”