G8 cancels third world debt

[nevre]

LONDON, June 11: The world’s richest nations struck an historic deal on Saturday to write off immediately all multilateral debt owed by 18 of the world’s poorest countries, mostly in Africa, amounting to $40 billion. Uganda, Rwanda and Ethiopia gave a cautious welcome to the cancellation of their debt by the Group of Eight (G8) meeting in London,

Comments

G8 Cancels SOME Third World Debt

[zachwolff]

Why isn't this huge news? It is huge news, in Latin America at least. Front page, above the fold on all the major newspapers. The reason it isn't huge news where you are is, presumably, because the people making the decisions about what does and does not become huge news don't think it would sell. Once again, the capitalist media lets us down

Bolivia

[zachwolff]

I think Bolivia will be an interesting case to watch. Not sure how much coverage it's gotten in the first-world press, but Bolivia just went through a small revolution. Protestors completely shut down the capital cities of La Paz and Sucre. As food and gas shortages (it's winter here, remember) got more desperate and the protests more violent (miners were turning out to the streets with pick axes and dynamite), President Carlos Mesa resigned