Debt cancellation deal - Time for Ireland to play its part
Bob Geldof and Bono, and their supporters, have helped achieve a humanitarian feat of gargantuan proportions which will contribute to the welfare of generations to come.
The two Dublin men have been the catalyst for an extraordinary provocation of world capitalism to realise its moral duty to the developing world.
Their breadth of vision - especially that of Geldof and his Live Aid initiative - persistence and tenacity in lobbying world leaders culminated in the weekend’s historic announcement of the cancellation of $55 billion in debt.
They pursued a dream relentlessly and were not deterred by a prevalent cynicism that scoffed at the practical idealism they promulgated at every opportunity their fame and influence afforded them.
For what they have won for so many of humanity’s underprivileged, now and in the future, the Nobel Peace prize would be a fitting accolade and tribute.
British Chancellor Gordon Brown must also be credited for his negotiating skills which produced this historic deal for so many struggling countries.
Anti-poverty campaigners have generally welcomed the cancellation of $55bn (€45bn) in debt owed by the world’s poorest nations.
The decision, which was made on Saturday at a meeting in London of G8 finance ministers, came a month before the G8 summit in Edinburgh where world leaders will discuss proposals to double development aid.
Speaking on RTÉ radio yesterday, Bono said hearing about the decision was one of the happiest moments of his life, but he also called on Taoiseach Bertie Ahern to ensure that Ireland meets its commitments in helping to eliminate Third World poverty.
It is a call to which Mr Ahern must respond by instantly renewing the pledge which he made before world leaders, on behalf of the Irish people, to meet UN Overseas Development Aid targets by 2007, and which the Government has shamefully reneged on.
That solemn promise to deliver 0.7% of GDP in development aid was made four years ago, and repeated two years later, but abandoned last year when the Book of Estimates was announced.
It was, and still is, unconscionable, that one of the richest economies in Europe, which is still expanding, should display such a hypocritical and shabby attitude to countries in dire need.
As pointed out by this newspaper on more than one occasion, Ireland has a moral obligation to contribute its just and fair share to those nations which badly need our help.
In welcoming the debt deal, Geldof, who is organising Live 8, a series of concerts to coincide with the G8 summit, stressed that more must be done.
The end, he said, will not have been achieved until they have the complete package demanded by the Commission for Africa - debt cancellation, doubling of aid and trade justice.
The commission was established by British Prime Minister Tony Blair who estimated that the Continent needs an extra £14bn (€21bn) of aid each year.
The Gleneagles summit will have to consider those demands in the spirit of the debt cancellation deal, and priority must be given to tackling AIDS, which has ravaged millions of families in Africa.
To attempt to put the AIDS epidemic in a relative context, the annual global mortality rate would be sufficient to wipe out the population of Ireland within 18 months.
Most of the global population living with AIDS are in Africa where the virus has infected an incredible 40 million people and created 14 million orphans.
It has been projected that by 2010, almost double that figure of African children will be orphaned.
But the fact is, that the AIDS epidemic can be controlled, as shown by United Nations figures for Uganda, where the infection rate was 30% in the 1990s, but since then has been dramatically reduced to only 6%.
The 147 member governments of the World Trade Organisation have yet to agree on many issues, especially the opening up of international trade in farm goods.
A proposed framework for a legally binding treaty to cut import duties and regulate government subsidies has yet to be agreed. Differences between rich and poor nations and between agricultural importers and exporters are so wide at the moment that there is little chance of consensus.
In 2003, the European Union paid $913 in subsidies annually for every cow in Europe while donating just $8 per person in Africa’s poorest regions.
Just over two years ago, Mr Ahern told the World Bank that the need for increased ODA was more evident than ever, and Ireland would reach out to those less fortunate than ourselves.
It is time to reach out. It is time to deliver on a solemn promise Mr Ahern made on behalf of the Irish people.
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