African Debt Relief
Frederick Douglass IV Celebrates African Debt Relief, Renews Commitment to campaigning for Expanding Program
The G8 (Canada, France, Germany, Italy, Japan, United Kingdom, Russia, United States of America) International Monetary Fund and _ have elected to relieve the debt of fourteen African Nations and Four (4) South American Countries. The amount of debt being relieved exceeds $40 billion. The relief for these countries this year will total $1.5 billion.
Another 9 countries will be eligible for debt release within 18 months. When this happens, the total debt relief will exceed $55 million.
The countries slated for inclusion in this round of debt release include Benin, Burkina Faso, Ethiopia, Ghana, Madagascar, Mali, Mauritania, Mozambique, Niger, Rwanda, Senegal, Tanzania, Uganda, and Zambia.
South American countries included in this round of debt relief include Bolivia, Guyana, Honduras and Nicaragua, African nations slated for debt relief in the next 18 months include Cameroon, Chad, Democratic Republic of Congo, Gambia, Guinea, Guinea Bissau, Malawi, Sao Tome and Sierra Leone.
The Douglass Duo attended the Africa Summit held in Baltimore June 21-24 and interacted with numerous heads of state, ambassadors and other dignitaries in discussions about the best ways to utilize these funds to enhance health care, education and build infrastructure that will support the needed economic development to allow the African nations to reach their full potential.
During the ensuing weeks, Mr. Douglass will be announcing major new initiatives that will facilitate working relationships between representatives of the involved African nations and the Global-8 nations.