Neil Watkins Bank Quotations

Last summer, President Bush and other world leaders promised debt cancellation to the world's most impoverished countries. But a proposal before the World Bank this week would needlessly delay cancellation for at least two years from last year's G-8 summit for more than half of those countries eligible.

To top it off, the Bank is asking these countries to keep making non-refundable debt payments to the Bank instead of using the funds to fight poverty, HIV/AIDS, and now avian flu in Africa. We call on the US Executive Director and the World Bank's Board to do the right thing and scrap these delays when they meet on Thursday.

Also, civil society must stay vigilant because the details of the deal will be worked out over the upcoming weeks at the IMF and World Bank boards. What we have right now is only a broad agreement; the finer details are what will matter.

This means that these 18 countries should only be the beginning, ... The World Bank and IMF should extend debt cancellation to all poor countries if they are serious about poverty alleviation.

The IMF/World Bank must agree to full debt cancellation this weekend. But this will only be a first step towards our broader goal of expanding debt cancellation to all impoverished countries, without devastating economic conditions, in the months and years ahead.

The G-8 made a promise this summer that some of the world's poorest nations would see their debts to the IMF and World Bank totally and irrevocably erased. Now some governments and the World Bank are trying to take that promise back. That is unacceptable,