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Bush and Brown (UK) head for showdown on debt relief

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bin.dare Donating Member (517 posts) Send PM | Profile | Ignore Sat Jan-29-05 08:48 PM
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Bush and Brown (UK) head for showdown on debt relief
US likely to block Britain's 'Marshall Plan for Africa' at G7 summit

Heather Stewart, economics correspondent
Sunday January 30, 2005
The Observer

George W Bush will emerge as the major obstacle to Britain's ambitious proposals for a new 'Marshall Plan' for Africa this week as the world's finance ministers converge on London for the G7 summit.
With troops mired in Iraq, and Bush under pressure to reduce his vast budget deficit, Washington is reluctant to commit extra cash to relieve the plight of Africa.

German Chancellor Gerhard Schrder set the scene for a transatlantic confrontation when he became the latest European leader to throw his weight behind Britain's plans for an International Finance Facility that Gordon Brown hopes will release an extra $50 billion for the world's poorest countries. France and Italy had already expressed support for a large increase in aid and debt relief, and a Treasury official said: 'We can go into the G7 this week with Europe presenting a united front. There's a momentum building.'

However, campaigners are warning that US opposition could prove a major stumbling block. 'We are not expecting a complete agreement along the lines of the UK proposals: I think the US is still pretty intransigent,' said Romilly Greenhill of Action Aid.

(more)
http://observer.guardian.co.uk/business/story/0,6903,14...

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