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News :: Media
Havana Winds up Anti-Foreign Debt Meeting
30 Sep 2005
Havana Winds up Anti-Foreign Debt Meeting
Habana, Sep 30 (Prensa Latina) Attendees at the North-South Meeting agreed on the untenable nature of the Third World foreign debt during an international forum winding up Friday in this capital with delegates from 53 countries.

The prevailing trend of the World North-South Meeting on Resistance and Alternatives to Foreign Debt has been to demand those governments make concrete political plans to deal with international financial organisms.

This can be done by bringing external debits to domestic markets, as happens in Argentina, Brazil and Ecuador, whose paid twice last year for those services, said Latin American delegates.

The people usually fall prey to re-negotiation dangers with the International Monetary Fund and the World Bank, which impose harsh conditions for payment.

The final session´s aim is to create new strategies to totally demand the settlement of foreign debt and not the proposal made by the more industrialized eight-nation group (G-8).

Unmasking powerful economic centers´ interests hidden in free trade agreements, privatization and US warmongering will be also discussed during the event´s last session.

The meeting will issue a declaration at the final session, where participants expect proposals on ways to handle Third World foreign debt.

Obligations of the developing world were on the table 20 years ago, when President Fidel Castro denounced the illegitimate and unplayable nature of small nations´ debt to bigger ones.

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