Socialist Worker

Every 3 seconds a child dies needlessly, and the G8 debt plan won’t help

...and here are the facts that prove it

Issue No. 1958

Demonstrating against debt

Demonstrating against debt

  • Only 18 countries are helped by the latest G8 proposals
  • Only 5 percent of the inhabitants of developing countries live in these 18 countries
  • At least 62 countries need total debt cancellation to meet millennium development goals
  • £25 billion — the amount the UK spends on the military per year
  • $2 billion — the amount the current proposals would cost the G8 each year
  • $350 billion — the amount spent on farming subsidies by the G8 countries each year
  • $700 billion — the amount spent on military expenditure by the G8 countries each year
  • $370 billion — the amount spent each year by developing countries on repaying debts to governments and banks in the West
  • $5 billion — the amount spent on the Iraq war each month by the US government alone
  • Countries not covered by current proposals that spent more on debt than health in 2002: Cameroon, Ethiopia, Gambia, Guinea, Madagascar, Malawi, Mauritania, Senegal, Uganda and Zambia

‘It is as though the rich countries had tried to agree on a few well chosen phrases that would commit them to as little as possible'
Eric Toussaint, co-author of Who Owes Who?

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Article information

Sat 2 Jul 2005, 00:00 BST
Issue No. 1958
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