The Fifth Horseman: Bravo! Now do more!

Friday, July 08, 2005

 

Bravo! Now do more!

Well, the G-8 just officially unveiled its $50 billion aid package for Africa. Good job guys, but don't start patting yourselves on the back just yet. You still have a lot more work to do. You're off to a good start, but Africa and the entire Third World still needs a lot of help.

Where to start? How about debt releif. The $55 billion debt relif unveiled in June was a good start, but you can do more. Sub-Saharan Africa alone has over $68 billion in debt to foreign creditiors. Add that to debt problem in the rest of Africa and Asia and, even after the relief package, you still have a financial crisis of epic proportions.

So don't get comfortable just yet G-8. You guys represnt the most poweful nations in the world. You're easily capable of increasing aid to twice that amount without you economies experiencing so much as a hiccup. Don't forget the UN's 2015 anti-poverty goals. Without your support, in greater amounts, those goals are almost certainly impossible to meet.

So step it up guys. Good job, but step it up.

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