Development - G8 reponse

Question 1

2005

Answer 1

• 31st summit in Gleneagles, Scotland in July
• released $40 billion in debt from HIPC’
• said 20 more were eligible if they enacted privatisation, liberalisation, and reduce budgetary expense, $15 bill would be released
• promised to double aid to Africa
• in 2010 a leaked communique contained no mention of the goal, due to lobbying by France and Italy who hadn’t reached their aid targets
• a 2008 OECD report said current plans would only yield $11 billion, short of the $50 billion target

Question 2

2005

Answer 2

• 31st summit in Gleneagles, Scotland in July
• released $40 billion in debt from HIPC’
• said 20 more were eligible if they enacted privatisation, liberalisation, and reduce budgetary expense, $15 bill would be released
• promised to double aid to Africa
• in 2010 a leaked communique contained no mention of the goal, due to lobbying by France and Italy who hadn’t reached their aid targets
• a 2008 OECD report said current plans would only yield $11 billion

Question 3

WTO - trade disputes

Answer 3

• 2002 Brazil brought case against US for giving $3 billion in cotton subsidies to farmers
• 2004 WTO ruled in favour of Brazil, but US refused to comply, so Brazil put $2.5 billion in subsidies on US cotton imports

Question 4

WTO - trade talks

Answer 4

• 2008 study by WB economist showed that success could increase global income by $3000 billion per/year, $2500 billion for developing
• started 2001