G7 Waters Down Brown's Proposals for Debt relief for Africa

The Group of Seven Wealthy nations (G7) has given a pledge to increase the amount they provide for Third World debt, however, the proposals that British Chancellor, Gordon Brown were fiercely opposed by some members and as a result the final outcome fell short of these plans.

Brown had been adamant in the run up to the meeting with other G7 participants, and was quoted last Saturday as saying, "We are willing to provide as much as 100 percent debt relief on all multi-lateral debt for individual HIPC countries." He was referring to many poor countries across the world, mostly in Africa.

He added, "It is the rich countries hearing the voices of the poor...showing that no injustice can last forever."

To the delight of many campaigners, Brown had proposed on behalf of the UK, and as the Chair to the G7 talks, for a complete nullification of African debt and for aid to the region to double to $100 billion (53.4 billion GBP). However, stern opposition came from the USA and this lead to a much lesser deal being struck.

Brown commented that world lenders such as the World Bank and IMF (International Monetary Fund), which is owed up to $70 billion by Africa, would have to figure out their ways quickly on how to follow through with their pledges regarding debt relief.

The list of G7 nations have felt increasing international pressure to reach the Millennium Development Goals, which aim to eradicate poverty from Africa by 2015.

Brown’s proposals to double aid to Africa to $100 billion were rejected after the USA held back its approval, and many other nations proved to also be cautious to the deal,

A compromise was finally reached, and much of this had to do with the passionate appeal from Nelson Mandela, former South African president, who has been in London this past week to help fight poverty. Mandela argued for Africa’s full debt to be written off, and backed strongly Brown’s proposals to double aid to $100 billion, he said, "Do not delay while poor people continue to suffer."

After the USA voiced its disagreement with Brown’s proposals, Italy and Germany also argued for a less drastic measure to take place.

G7 has devoted itself to providing support and strength to Africa, and consists of the USA, Japan, Britain, Germany, France, Canada and Italy.