RoxHard said on February 25, 2005 16:53:

Cause of his work trying to eleminate third world debt...

Oldag75 said on February 25, 2005 17:29:

Elimination of third-world debt will be another jewel in the crown for third-world leadership. Right now, they’re merely tin-pot dictators and tribal warlords. Erase their debts, and they’ll be promoted to deadbeat tin-pot dictators and warlords. A real step up.

Do Nobel Prizes ever reward results.... or just efforts? Results and efforts are two entirely different things.

MiracleMan said on February 25, 2005 23:24:

Sascha: LOL!

Oldag75 said on February 28, 2005 13:42:

Roxhard: “all the people starving to death, and all the people dieing from aids, and all the kids who aren’t able to go to school... simply because their DEMOCRATIC governments spend half of all the gdp on the INTEREST of their loans”

Please cite some examples. Be specific. To what third-world nations are you referring? Can you list for us some third-world democracies ?

Oldag75 said on February 28, 2005 19:16:

My apologies, Roxhard, you are absolutely correct – the name of that nation indeed does contain the word “democratic.” Considering the way things are going there (posted below), they would be much better off as a dictatorship. Bono should get to work on that.

The economy of the Democratic Republic of the Congo - a nation endowed with vast potential wealth - has declined drastically since the mid-1980s. The war, which began in August 1998, has dramatically reduced national output and government revenue, has increased external debt, and has resulted in the deaths from war, famine, and disease of perhaps 3.5 million people. Foreign businesses have curtailed operations due to uncertainty about the outcome of the conflict, lack of infrastructure, and the difficult operating environment. The war has intensified the impact of such basic problems as an uncertain legal framework, corruption, inflation, and lack of openness in government economic policy and financial operations. Conditions improved in late 2002 with the withdrawal of a large portion of the invading foreign troops. Several IMF and World Bank missions have met with the government to help it develop a coherent economic plan, and President KABILA has begun implementing reforms. Much economic activity lies outside the GDP data. Economic stability, aided by international donors, improved in 2003. New mining contracts have been approved, which - combined with high mineral and metal prices - could improve Kinshasa’s fiscal position and GDP growth.

carbon_boy said on March 1, 2005 10:27:

Good one RoxHard. You forgot about South Africa though. Wonder what Oldag will have to say about SA? Anyways, have a look at this Oldag:

This is from the Jubilee Debt Campaign website (www.jubileedebtcampaign.org.uk) ::

The Numbers

Original debt of the world’s 52 poorest and most indebted countries: $375 billion

Amount of debt that the G7/8 promised to write off*: $100 billion

Amount of debt actually written off so far: $46 billion

Proportion of the debts of the 52 poorest/most indebted countries written off: 12%

Amount of money the 52 poorest/most indebted countries still have to spend on debt repayments: over £30 million every day

Number of countries eligible for the international Heavily Indebted Poor Countries initiative (HIPC): 42

Proportion of bilateral debt that the G7 countries have promised to cancel for the 42 HIPCs**: 100%

Proportion of multilateral debt that the World Bank and International Monetary Fund will eventually cancel for the 42 HIPCs: 65% (approx)

Total amount of multilateral debt owed by the 42 HIPCs that is NOT eligible for cancellation: $93 billion

Cost to UK of cancelling our ‘share’ of the outstanding multilateral debt owed by the 42 HIPCs: £3 per person per year over 10 years

* The G7 is the group of the world’s seven richest and most powerful countries; when meeting with Russia they are called the G8.
**The $100 billion ‘Cologne Promise’ is not enough to meet the existing pledges to cancel all bilateral debt owed by the 42 HIPCs and 65% (approx) of their multilateral debts, let alone cancel all the unpayable debts of the 52 poorest/most indebted countries.

Debt Hurts

Zambia’s debt repayments to the IMF alone cost $25 million, more than the country’s education despite 40% of rural women being unable to read and write.

Sub-Saharan Africa receives $10 billion in aid every year – but has to pay back at least this amount in debt repayments.

Malawi spends more on servicing its debt than on health, despite nearly one in five Malawians being HIV positive.

Despite being the second country to be granted debt cancellation (after Uganda) Bolivia still spends more on debt servicing than on health, even though its infant mortality rate is 10 times that of the UK.

Debt Cancellation Works

In Benin, 54% of the money saved through debt relief has been spent on health, including on rural primary health care and HIV programmes.

In Tanzania, debt relief enabled the government to abolish primary school fees, leading to a 66% increase in attendance.

After Mozambique was granted debt relief, it was able to offer all children free immunisation.

In Uganda, debt relief led to 2.2 million people gaining access to water.

Makes you think, doesnt it?
Cheers

pumpkins said on March 1, 2005 14:44:

“how is Cher doing?”

I’m sorry but I don’t know what this means. What has Cher got to do with it? I’m obviously missing something here. Can someone explain?

Thanks.

coyboyusa said on March 1, 2005 23:44:

well now we know what the noble peace prize stands for jack crap