G8 Deal on Debt Relief

At last, some good news for the World’s poorest countries: The G8 group of the World’s richest nations has reached a deal to write off 100% of the debt owed by 18 countries, a sum of $40bn.

It’s about time.

It’s also pleasing to note that it was Gordon Brown, Chancellor of the Exchequer in Tony Blair’s Labour government in the UK (who is also widely tipped to take over from Tony Blair as the next Prime Minister), who was instrumental in brokering the deal. I voted for Labour somewhat reluctantly in the UK elections last month in view of the Iraq debacle, so it’s good to see them doing something unarguably good in the World.

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