Africa: G7 leaders told to 'do the deal' on debt cancellation

Every month rich country leaders delay a deal on debt cancellation, the poor pay with their lives. Last month, rich countries agreed to suspend the debt repayments of the countries devastated by the Tsunami for 12 months. Under the intense media spotlight, it was clear that rich countries could not continue to give aid with one hand only to take it back with the other hand through debt repayments. Through this step, they recognised that saving lives is more important than repaying debt. On Friday 4th February 2005 the Finance Ministers of the G7 will meet in London. These seven men have the power to make a decision which would end the crippling debt burden of the poorest countries. G7 leaders have made warm speeches about the importance of solving the debt problem. This is according to a joint ActionAid, CAFOD and Oxfam paper released ahead of the meeting.