Apparently, the US treasury now favours a total write-off of the multilateral debt of the 27 poorest countries.
First, let's celebrate... Those countries are still giving away 800 Millions $ of principal and interests, money which is missing for education, health and infrastructures.
i) Why 27??? why not 29, 32, 12... CRITERIAS!!!
ii) Why now? My proposal: the US are facing stiff opposition from France and others about the debt relief program for Irak. The main argument of the opponents? Well, how can we erase 90% of Irak's multilateral debt and refuse to do so to other countries that do not have the world's 4th oil reserves...
So be it... my dear friend "W" seems to be answering... Let's cut it all!
iii) Is it really positive?
YES if the money is re-invested in the above mentioned areas: education, health, infrastructures...
NO if, as too often, it goes in the already wealthy pockets of "dear Leaders"
NO, if, as it may seem, the loss for organizations like the world bank, the IMF... is not compensated at the same level! Otherwise, it will be: "OK, no reimboursment anymore, but no money anymore as well..."
But finally, why not? let's take the challenge: Let us be NORMAL countries!
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