IN THE NEWS - Wealthy Nations Consider Canceling Debt of Poo

IN THE NEWS - Wealthy Nations Consider Canceling Debt of Poor Ones
By Jerilyn Watson

Broadcast: Saturday, June 11, 2005

I'm Steve Ember with IN THE NEWS in VOA Special English. Hopes grew all week for a plan to cancel the debt of some of the world's poorest countries.

On Friday, Britain's finance minister said he expected the Group of Eight nations to reach an agreement. Gordon Brown said the debt cancellation¹ plan would be the largest ever. But Mister Brown also said much remains² to be discussed.

The treasury³ chief commented as Group of Eight finance ministers gathered in London for two days of talks. G-Eight leaders will meet July sixth through the eighth in Scotland. Two major issues to discuss are Africa and climate change.

British officials said the plan would cancel the debt of eighteen countries at first. Officials say the plan could help close to forty countries in all.

The Group of Eight countries are Britain, Canada, France, Germany, Italy, Japan, the United States and Russia. They have disagreed about how best to deal with the huge debts owed by poor countries. Some G-Eight members have proposed not to cancel debts, but to suspend repayments⁴. Another issue is how to pay for debt cancellation.

British Prime Minister Tony Blair met with President Bush in Washington this week. They said Britain and the United States were close to agreement on a proposal for the G-Eight. Mister Bush said it would cancel one hundred percent of the debt of "highly indebted developing countries that are on the path to reform." He said additional resources provided would protect the financial security of the World Bank and the African Development Bank.

 
George Bush, Tony Blair at White House news conference Tuesday
Mister Bush said American aid to Africa south of the Sahara is three times higher than it was four years ago. He said America now provides nearly one-fourth of all aid to that area, and wants to do more in the future.

The President announced more than six hundred seventy million dollars in aid for Africa. The extra assistance is to help feed an estimated fourteen million people at risk of starving in Ethiopia and Eritrea. Somalia and Djibouti are also expected to receive extra aid.

But Mister Bush said no developed nation wants to give money to dishonest governments that do not take an interest in their people. Nor is there interest, he says, in supporting governments that do not have open economies and open markets. Mister Bush said aid helps. But, in his words, "many African nations have come to discover that through trade, they can develop a more hopeful society."

Tony Blair wants wealthy countries to increase aid to Africa by one hundred percent over the next five years. Britain is president of the Group of Eight this year. The prime minister has made fighting disease and poverty in Africa major goals.

IN THE NEWS in VOA Special English was written by Jerilyn Watson. I'm Steve Ember.

1 cancellation   

n.删除，取消

参考例句：

• Heavy seas can cause cancellation of ferry services.海上风浪太大，可能须要取消渡轮服务。
• Her cancellation of her trip to Paris upset our plan.她取消了巴黎之行打乱了我们的计划。

2 remains   

n.剩余物，残留物；遗体，遗迹

参考例句：

• He ate the remains of food hungrily.他狼吞虎咽地吃剩余的食物。
• The remains of the meal were fed to the dog.残羹剩饭喂狗了。

3 treasury   

n.宝库；国库，金库；文库

参考例句：

• The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
• This book is a treasury of useful information.这本书是有价值的信息宝库。

4 repayments   

偿还，报答，偿付的钱物( repayment的名词复数 )

参考例句：

• The repayments of the loan are spread over 10 years. 贷款可在十年内分期偿还。
• The repayments of the loan are spread over 25 years. 这笔贷款分摊二十五年偿还。