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Economy Off Course
G8 Off Track On Increased Aid To Africa - Report
"The G8 industrial nations are collectively off course in delivering on a 2005 pact to more than double aid to Africa through 2010... according to a new report released on Thursday. The annual report by the ONE anti-poverty campaign charts progress by the G8 in meeting their aid promises made at a summit in Gleneagles, Scotland, in 2005 to more than double aid to Africa to reach $25 billion a year by 2010. By the end of 2008 the G8 nations had made good on one-third of their aid commitments and by the end of this year, they are expected to meet just half of their Gleneagles targets, the report said...." [Reuters/Factiva]
The Independent adds that "...this year's report describes the collective G8 assessment as 'grim', blaming 'exceptionally poor progress' by France and Italy, which were singled out as being responsible for 80 percent of the funding shortfalls.... 'Certain members of the G8 are meeting and even beating the targets they set for themselves', says the report...but 'France's delivery is disappointing, and Italy's performance is an utter failure'...." [The Independent (UK)/Factiva]
FT writes that ONE has "...called on the G7 and other international organizations to take sanctions against such breaches in future. 'Rules should be agreed to ensure that such countries shouldn't be allowed to attend or chair important international meetings in the future, if the system is to retain any credibility,' said Jamie Drummond, co-founder and executive director of ONE, the group that counts rock star Bono among its founders...." [Financial Times/Factiva]
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