10 February 2005


For the first time finance ministers from the world’s wealthiest nations have agreed to support plans for the total cancellation of the debt owed by the world’s poorest countries. Whilst the Feb 5th announcement was welcomed as a significant breakthrough by those who have long campaigned for debt relief, it was noted that there is still no agreement on how the relief will be provided.

Campaigners were therefore urged to maintain the pressure on world leaders to ensure that this agreement will be translated into action that will benefit the world's poor.

The next significant discussion of this issue will be at the World Bank/IMF meeting in Washington on 17 April, followed by the annual G8 summit 6-8 July in Scotland.

Visit the Jubilee Australia website to find out more about the campaign to drop the debt and to support the campaign that calls for Australia to let Indonesia keep the A$93 million it owes Australia in debt repayments this year and instead use it for reconstruction and humanitarian assistance.

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