Resolution by the
Note: The links to
The
Posted by
The
The 1,000 member U.S. Conference of Mayors at its 66th annual meeting in
"By adopting this resolution the U.S. Conference of Mayors is providing important leadership and guidance on U.S. Africa policy while also pointing to the critical link between human development and mutually beneficial trade relationships," said Susie Johnson, Projects Director of The Africa Fund, who addressed the International Affairs Committee at the conference on Africa's efforts to overcome economic obstacles to growth.
The resolution notes that "twenty-two of the world's poorest 30 nations
are in
The U.S. Conference of Mayors is a non-partisan organization of more than
1,000 cities with populations of more than 30,000. Each city is represented in
the Conference by its mayor. The resolution's primary sponsor, the Hon. Wellington
E. Webb, Mayor of Denver, was joined by Hon. Dennis W. Archer (
The following is the full text of the resolution:
DEBT RELIEF FOR AFRICAN
COUNTRIES
1. WHEREAS, twenty-two of the world's poorest 30 nations are in Africa, which continues to struggle under a crushing burden of debt now totaling $323 billion, a significant portion of which is owed to multilateral development agencies; and
2. WHEREAS, many African countries spend more on debt repayment to bilateral government creditors, multilateral agencies like the International Monetary Fund and others than they do on education and health care, spending more than one quarter of their total export earnings on debt servicing; and
3. WHEREAS, debt repayment impedes Africa's ability to meet basic human needs, siphoning away funds needed to strengthen human capacity, weakening civil society and inducing a downward spiral of economic, social and political decline; and
4. WHEREAS, social and economic development are inextricably intertwined processes that are critical to achieving sustainable development and equalizing opportunities for all of Africa's people in the context of harmony and social justice; and
5. WHEREAS, the highly indebted poor countries (HIPCs) debt relief initiative sponsored by the World Bank and the International Monetary Fund provides recognition of the debt crisis, it is not a comprehensive strategy to deal with this burden, has so far only benefitted a handful of African countries and does not provide for definitive debt cancellation which is necessary if Africa's cities are to achieve economic growth and engage in mutually-beneficial trade that can create jobs in the U.S. and Africa;
6. NOW, THEREFORE, BE IT RESOLVED that the U.S. Conference of Mayors agrees that the crushing debt burden inhibits trade and is crippling the lives of Africa's people; and
7. BE IT FURTHER RESOLVED that the U.S. Conference of Mayors calls upon the President and the Congress of the United States to provide leadership in working toward significant debt reduction and cancellation of debt owed by the poorest African countries to the world's richest industrial nations, known as the G-8, and to multilateral agencies such as the World Bank and the International Monetary Fund.
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Founded in 1966 by the American
Committee on
For more information contact Susie Johnson or Richard Knight at
The Africa Fund
50 Broad Street, Suite 711
New York, NY 10004.
Phone: 212-785-1024.
Fax: 212-785-1078.
E-mail: africafund@igc.org
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Posted
on RichardKnight.com
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