Gordon Brown
– arm-in-arm with Oxfam – is proclaiming himself as the
new champion of the poor and making his bid to be the
next Prime Minister. Is he really breaking from the New
Labour mould, or simply issuing empty populist promises?
Gareth
Davies
Brown
intends to “reverse the fortunes” of Africa and pull
millions of people out of poverty by writing off the debts
of the world’s poorest nations and doubling aid by 2010.
George Bush has already poured cold water on his
proposals, earmarking a paltry $370 million, from money
already committed to another aid budget, towards Brown’s
pet project. Compare this to the US defence budget for
2006 – a staggering $491 billion.
The
World Bank estimates the total external debt stock (the
total amount of debt) of the developing countries is
around $2.5 trillion, with nearly two thirds of that
figure being owed to private western investors.
Sub-Saharan African countries owe $68 billion to
international institutions, but $220 billion to private
lenders. So in cancelling all debt stock payable to public
bodies, many countries would still be massively in debt,
and Brown would just be ensuring that the private
companies got paid.
Yet,
in most cases it won’t be the debt stock being wiped out.
Rather, they will have their debt service (the periodic
amount paid back plus interest) put on hold on condition
of the country adhering to World Bank/IMF criteria (for
this read privatisation and cuts in public spending).
A
recent ActionAid report claimed that only 10 cents of
every dollar of US aid is 'real' aid, with two thirds
wasted on ‘phantom’ aid, such as employing expensive
Western advisers and consultants. Whether doubling aid
would see a twofold increase in real aid is doubtful.
Brown’s bold words are in
fact thinly veiled attempts at deceiving the public whilst
continuing to act on behalf of big business and the rich.
The only real way to ‘make poverty history’ is to bring
down the capitalist system that founded and sustains it.
Come to the ISR international youth camp
2nd
to 7th July
Travel
to and from Edinburgh & camp including food and transport
to all G8 counter-summit events
£85
unwaged/ low-paid, £105 waged
If you
can’t make the whole week join ISR on the demonstration in
Edinburgh on 2 July
Travel
to and from 2nd of July Make Poverty History demo in
Edinburgh from London
£35
unwaged/low-paid, £55 waged
For
details of transport from your area to the 6 July
demonstration phone 020 8558 7947 or email
anticapitalism@hotmail.co.uk
