Hey,
Here's the link to the photos from Debi's trip to the International People's Forum in Batam, Indonesia, and elsewhere in the country.
This week is pretty busy in the office, but we always have time to update you on what's happening in the world of debt cancellation and eradication of poverty. Look for this week's update Thursday.
In the meantime, enjoy the photos and tell us what you think about Norway's groundbreaking decision to cancel the unsound debt "owed" by Egypt, Ecuador, Peru, Jamaica and Sierra Leone without conditionalities attached.
Gail Hurley from Eurodad, wrote:
NORWAY MAKES GROUNDBREAKING DECISION TO CANCEL ILLEGITIMATE DEBT Norway's Minister of International Development Erik Solheim announced today that Norway is unilaterally and without conditions cancelling US$80 million in illegitimate debts owed by 5 countries: Egypt, Ecuador, Peru, Jamaica and Sierra Leone. Norway's Government has, in effect, admitted that it's lending in these particular cases was irresponsible and motivated by domestic concerns, rather than an objective analysis of the development needs of the countries involved. The débacle involves the export of Norwegian ships to developing countries between 1976 and 1980. It exported these ships mainly to secure employment for a domestic ship-building industry in crisis, not because these ships served the development needs of the countries concerned. It is only fair therefore that Norway accept co-responsibility for the debts which resulted from these deals. So far however, creditor countries have been incredibly reluctant to accept shared responsibility for negligent and often politically motivated and corrupt lending in the past. They have continued to insist that poor countries service these debts. Today however this practice effectively ended with the unilateral action of one government. Eurodad hopes that the Norwegian announcement will now prompt other creditor countries to open public and serious enquiries into their lending policies and practices of the past.
Now if only we can get the United States to do the same.
Posted by monét cooper
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