[stop-imf] Total debt cancellation for all those countries that can't pay - African Union Eminent Personalities meeting

[robert weissman]

     PRESS RELEASE #2

     EMINENT PERSONALITIES END THEIR MEETING IN DAKAR, SENEGAL, WITH
RECOMMENDATIONS TO BE CONSIDERED BY THE AFRICAN MINISTERS OF ECONOMY AND
FINANCE DURING THEIR MEETING IN DAKAR, SENEGAL, ON 7 MAY 2005 .

     3 May 2005
     Dakar =96 Senegal

Eminent Personalities from around the continent, invited by the African
Union Commission, met in Dakar, Senegal, from May 2-3, 2005 to discuss
three issues: Africa=92s external debt problem; the report of the
Commission for Africa; and evaluation of the implementation of the
Millennium Development Goals. The meeting ended with several
recommendations to be submitted to the meeting of African Ministers of
Economy and Finance, to be held, in the Senegalese Capital, Dakar, on 7
May 2005.

Regarding Africa's external debt, the Eminent Personalities agreed that
debt repayment is prejudicing investment in development programmes and
projects and recommended total debt cancellation for all those countries
that are demonstrably incapable of repaying. They also urged African
leaders to maintain militant and forceful posture in advocating African
positions on debt, and to build alliances between governments and civil
society organisations in Africa, and between Africa and other developing
regions in addressing global debt and development challenges.

As for the report of the Commission for Africa, the Eminent
Personalities welcomed its assertiveness in urging Africa's development
partners to fulfil the commitments they entered into at various
multilateral engagements. They also urged African institutions such as
the African Union, the African Development Bank, and the Regional
Economic Communities to place themselves at the forefront of mechanisms
for implementation of development strategies and programmes on the
continent.

In relation to the Millennium Development Goals, the Eminent
Personalities reaffirmed that the attainment of the MDGs should not only
be rooted in Poverty Reduction Strategy Papers (PRSPs), but also in
broader strategies for growth and redistribution. They further
recommended that African leaders ensure that resources provided in
support of African initiatives are adequate, predictable and improved,
both in quality and composition.

This meeting of the Eminent Personalities will be followed by a meeting
of African Experts on the same issues and on alternative sources of
funding for the African Union, on 4-5 May 2005.

Dakar, 3 May 2005

Press Contact:
Assane Ba
Tel in Dakar: 618 18 37