It was a pretty good bet that there'd be a catch to the debt relief. Monbiot found it, too. [via Anne Zook]
I'm not convinced that this is worse than usual, or, for that matter, that some of it wouldn't be to Africa's benefit. Not the outsourcing resource exploitation to foreigners, so much, but the good governance stuff.
2 comments:
Oh yeah, like the US is one to start judging others on sound economic policy? If we were a company running this fast into the red (and still running!) the shareholder revolt would have dumped the CEO out onto the streets. And of course we're an exemplar of good governance...
Actually, most companies of this scale would get bailouts from banks and governments which couldn't stand the fallout of outright failure. Something like our Treasury Bill auctions being propped up by Chinese and Japanese banks....
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