|Develop a Global Partnership for Development|
Goal 8: Working together to ask wealthy countries for more and better aid, to drop the developing world’s debt, to make trade fair, and asking poor countries to fight corruption.
- We can end extreme poverty if the world’s 22 industrialized countries keep their promise to devote 0.7 percent of gross national product to humanitarian assistance.
- Debt, much of it illegitimate, has kept many countries poor. Countries often spend more on debt repayment than on health care and education. But debt relief, agreed upon at the 2005 G8 Summit, allows highly indebted countries to direct money toward development that would otherwise have been used to pay off debt. For example, in 2006, $750 million that would have been spent on paying off debt was instead used to fund education in Nigeria.
- Fair trade could lift millions of people out of poverty, but the rules of international trade favor rich countries. A change in trade rules will allow poor countries to strengthen their own economies.
- Poor countries have agreed to fight corruption, and rich countries have agreed to give more and better aid, forgive debts, and promote fair trade. The knowledge, technology, and resources are available. All we need is the will to make it happen.
What we are asking Debt
: The G8 leaders agreed in July 2005 to forgive 100 percent of the debt of 18 of the world’s poorest nations — freeing up $40 billion that can now be used to address the needs of the poor. However, the 18 countries that qualify immediately represent less than one-third of the countries (at least 62) and only 10 percent of the debt that needs to be fully cancelled to meet the Millennium Development Goals that were internationally agreed upon.
: All people should be allowed to exercise their talent and creativity, selling or trading their goods to make a living. However, the current economic model does not allow everyone to compete on a level playing field. Rather, the inaccessibility of the developed world market favors wealthy countries and hinders the entrepreneurial spirit of the poor. Reversing this situation would contribute greatly to reducing poverty. In 2005, the G8 countries promised to make trade work for Africa through World Trade Organization negotiations. But the ONE Campaign Data report
says that the G8 countries are off track with regard to their commitment to fair trade.
: The G8 leaders’ agreement to increase aid for Africa to $50 billion annually by 2010 will help the poorest people of the world fight poverty, AIDS, and hunger. This amount will help halve deaths from malaria by 2010, send millions of children to school, and provide access to life-saving AIDS drugs for 10 million people. However, the United States in not on track to reach the commitment it made at the 2005 G8 Summit.