Sir, - Conall O'Caoimh (July 5th) illustrates why the Cologne Debt Package of $71 billion will not resolve the debt crisis of the world's highly indebted poor countries. The Irish public might well ask what will bring this crisis to a close. Are non-government organisations demanding nothing short of total cancellation as headlines such as "Agencies shocked by G8 refusal to cancel all Third World Debt" (June 21st) suggest?
The increasingly shared opinion that debt represents a millstone around the necks of the world's poorest countries was most recently expressed in Ireland by the 800,000 people who signed the Jubilee 2000 petition. The greatest challenge we face on the eve of the new millennium is the eradication of absolute poverty. Poverty eradication is both affordable and possible. Achieving this goal demands equitable global relations, political will and yes, debt relief.
Linking debt relief to investment in primary healthcare and education would make a significant contribution towards achieving the internationally agreed human development goal of halving world poverty by 2015. The World Bank, IMF and other creditors should create a system of incentives for debtor countries whereby countries willing to transfer savings from debt relief into poverty reduction initiatives would be provided with earlier and deeper debt relief.
Meeting the 2015 goal represents a litmus test of our commitment to a more just and equitable world. As the 17th richest country in the world, Ireland can play its part in tackling global poverty by calling for speedier and deeper debt relief, meeting our overseas aid commitments and supporting a fair international trading system. - Yours, etc., Brian Scott,
Executive Director, Oxfam Ireland, Dublin 2.