Africa: President Obasanjo Calls for Total Cancellation of Africa's Debt

President Olusegun Obasanjo has called on the international community to consider "as a matter of priority" the "total cancellation" of the debts of African nations "as part of a meaningful effort" towards the continent's development. Addressing members of the international community on the final day of his state visit to Ethiopia in Addis Ababa on October 10, President Obasanjo also called for "genuine cooperation for the return of illegally acquired funds, which are stashed away in foreign banks," as well as the adoption of measures that will prevent the further looting of the resources of African nations.