Blair close to Africa deal at talks with Bush

[kskiska]

US ready to back extra payments to meet debts


Tony Blair is expecting a significant US move on multilateral debt relief for Africa in talks with President Bush today in Washington, or at a meeting of finance ministers from the leading industri alised nations at the weekend. Downing Street was trying to play down expectations of a breakthrough ahead of today's meeting - which will help decide the fate of Britain's ambitious G8 agenda - but sources in Whitehall and Washington confirmed progress had been made, and a deal was close.

The US has long supported 100% debt cancellation, but has now agreed in principle that extra cash must be provided by the G8 nations, the World Bank and the IMF to make up the lost interest payments due to the World Bank and owed by the African nations.

The deal would apply to as many as 20 African countries, but the precise criteria, in cluding possible yardsticks on good governance, are being discussed with EU nations.

The chancellor, Gordon Brown, is likely to set out progress at a meeting of EU finance ministers today, as Mr Blair seeks to nail down agreement with President Bush in the US. The prime minister will also be looking for agreement from Mr Bushon a new forum to discuss climate change with developing nations such as India and China.

more…
http://www.guardian.co.uk/hearafrica05/story/0,15756,1500856,00.html

[applegrove]

1. Finally. After kicking it off the agenda for 5 years. Asshole! n/t

[jamesinca]

2. Headline made me think of splitting up the continent

Like they were dealing cards from a game of Risk. I wonder what kind of requirement they will put on the people of Africa for this so called debt relief? I am very suspicious of Bush and anything that he does with money.