1.30.2005
Howard Opposes Push to Scrap Third World Debt (TheAge.com.au)
By Paul Mulvey, Annabel Crabb
Davos, Switzerland
January 30, 2005
Goodwill is gathering momentum at the World Economic Forum as major political leaders, a rock star and an Australian union boss call for the cancellation of Third World debt, while Prime Minister John Howard swims against the flow.
Mr Howard questioned the benefits of writing off debt after British Chancellor Gordon Brown yesterday called for total debt relief in a bid to eradicate poverty, the issue topping the agenda of the 2500 political and business leaders at the annual summit in Davos this week.
"We will propose to the G7 that there will be 100 per cent multilateral debt relief so that we can end, once and for all, the historic and unpayable debts of the poorest countries in the world," Mr Brown said, sitting alongside ACTU president Sharan Burrow and Irish rock star and activist Bono at a news conference on funding the war against poverty.
Mr Brown's pledge was backed by French Finance Minister Herve Gaymard and had German support, but Mr Howard tried to apply the brakes to the push for total relief.
"I think the biggest thing the developed world can do to alleviate poverty is to remove trade barriers," he said. "The benefits of that are infinitely better than direct aid. Direct aid works well in some cases.
"In many other cases, because of poor governance, it works very badly.
(More ... Howard opposes push to scrap Third World debt - National - www.theage.com.au) ¶ 10:41
Davos, Switzerland
January 30, 2005
Goodwill is gathering momentum at the World Economic Forum as major political leaders, a rock star and an Australian union boss call for the cancellation of Third World debt, while Prime Minister John Howard swims against the flow.
Mr Howard questioned the benefits of writing off debt after British Chancellor Gordon Brown yesterday called for total debt relief in a bid to eradicate poverty, the issue topping the agenda of the 2500 political and business leaders at the annual summit in Davos this week.
"We will propose to the G7 that there will be 100 per cent multilateral debt relief so that we can end, once and for all, the historic and unpayable debts of the poorest countries in the world," Mr Brown said, sitting alongside ACTU president Sharan Burrow and Irish rock star and activist Bono at a news conference on funding the war against poverty.
Mr Brown's pledge was backed by French Finance Minister Herve Gaymard and had German support, but Mr Howard tried to apply the brakes to the push for total relief.
"I think the biggest thing the developed world can do to alleviate poverty is to remove trade barriers," he said. "The benefits of that are infinitely better than direct aid. Direct aid works well in some cases.
"In many other cases, because of poor governance, it works very badly.
(More ... Howard opposes push to scrap Third World debt - National - www.theage.com.au) ¶ 10:41
