US-UK agree on aid deal
Britain and the United States have agreed to cancel the debts owed by 18 of the world’s poorest nations, the White House said on Friday.
“They (the United States and Britain) have now worked out the details of that proposal and they’re discussing that with the G8 finance ministers in London today,” said White House spokesman Scott McClellan.
After Prime Minister Tony Blair and US President George Bush met earlier this week, said Mr McClellan, the pair had worked out the details of the proposal on the table at the summit of G8 finance ministers in London this weekend.
I is envisaged $40 billion of debts owed by 18 of the world’s poorest countries will be wiped out/
The statement on Friday comes ahead of the G8 summit in Gleneagles, Scotland, in July.
Chancellor Gordon Brown said the uniqueness of the deal could not be underestimated.
But it remains to be seen whether finance minister will support Britain’s other plan to double aid to Africa to $100bn a year.
The Blair administration has described 2005 as the make or break year in the fight against world poverty.
Britain holds the presidencies of the G8 and the European Union this year.
The G8 is made up from the UK, US, Canada, Japan, Russia, France, Germany and Italy.
Separately, the Prime Minister now embarks on a whirlwind tour of countries belonging to the G8.
Next week, he meets Russian President Vladimir Putin in Moscow and German Chancellor Gerhard Schroeder in Berlin, before holding counsel with French President Jacques Chirac in Paris on June 14th.
