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15.09.2009 17:24 Age: 5 yrs
Category: Press Releases

Making the Grade for the World’s Poorest?

New Report Finds G-20 Falling Short of Development Pledges, Outlines Key Actions Needed at Pittsburgh Summit

Contact: Selena Shilad: 202-550-2547 or Margot Friedman at 202-332-5550

The report finds that the G-20 is off track on its pledges to strengthen financial supervision and regulation, to provide additional aid to low income countries for social protection and to meet the Millennium Development Goals, and is not meeting its pledge to increase support to low income countries through the international financial institutions.

The report further finds that, despite the urgent need in the poorest countries, only $23.5 billion of the $50  billion promised by the G-20 to low income countries has been delivered to date, with further resources unlikely to come quickly without greater political will.

The report specifically notes that only 0.14% of the resources committed by the G-20 to low income countries are in the form of debt relief, while 99.86% of this assistance is debt-creating, highlighting the potential for a new debt crisis among low income countries.   

The Progress report is available online here
The progress report, an analytical summary and more detailed analysis is available here.

Jubilee USA Network is an alliance of over 75 religious denominations, development agencies, human rights, and other organizations building the political will for poor country debt cancellation and more responsible global finance to fight global poverty.

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