Monday, June 13, 2005


In a perfect world, there are no debts - no borrowing,
no need for debt management nor debt recovery nor debt
consolidation nor anything relating to debt. Yeap,
absolutely no talk of debts. But that's the perfect
world, right?

Isn't it nice if all our debts can be written off like
what the G8 countries agree to do as stated in the
news article below. The following appeared in The
Sunday Star paper:

G8 countries agree to write off debt
LONDON: Finance ministers from the globe's richest
countries agreed Saturday on a historic deal to cancel
US$40bil (RM15.2bil) worth of debt owed by the world's
poorest nations.

Britain's Treasury chief Gordon Brown said 18 countries,
many in sub-Saharan Africa, would benefit immediately from
the deal to scrap 100% of the debt they owe to the World
Bank, the International Monetary Fund and the African
Development Bank. Up to 20 other countries could be
eligible if they meet targets for good governance and
tackling corruption, leading eventually to a total debt
relief package of more than US$55bil (RM209bil).

"The G8 finance ministers have agreed 100% debt cancellation
for Heavily Indebted Poor Countries," Brown told a news
conference in London.

"We are presenting the most comprehensive statement that
finance ministers have ever made on the issues of debt,
development, health and poverty," said Brown. - AP

There you have it... but dream on........

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