Ethiopia: Doing nothing for Ethiopia

G7 creditors, having promised substantial debt relief, have stalled the disbursement of relief, and are doing nothing for Ethiopia; this despite the fact that according to their own commitments and rules she is fully entitled to this relief. “Doing nothing for Ethiopia”, a briefing produced by Jubilee Research at nef (the new economics foundation) in February 2004 argues that this is once again “complicit in murder”. Why? Because if Ethiopia is denied additional debt relief, her government will lose US$1 billion in new money, and be obliged to divert US$35 million to service debt repayments to much richer creditors. This money could instead be used for hospitals, clean water and sanitation.