G8 Summit: Blink and you'll miss it
Back in 1999 when the G8 (the leaders of the Group of Seven “leading industrialised nations”, plus Russia) met in Cologne, Germany, they won headlines with their apparent new commitment to debt relief for some of the world’s poorest nations. They revamped the Heavily Indebted Poor Countries (HIPC) process, promising another $100 million to fund the cancellation of some debts owed by the 42 countries deemed eligible for that system to multi-lateral lending bodies such as the IMF and the World Bank. ...