here's an interesting comparison: writing off third world debt would cost approximately "500 billion dollars or even less. Five hundred billion is a figure that has been tossed around (in recent weeks) to bail out bankers who have behaved irresponsibly and so on. But there is a political will to save this banking system, so resources can be found."
so says the ceo of the World Alliance for Civic Participation (CIVICUS) and one of the founders of the Global Coalition Against Poverty (GCAP), dr kumi naidoo. meanwhile, he notes that not even 20 per cent of the committments pledged by the G8 summit in 2005 to fight poverty and fund development in the south has materialized.
there are popular concerns that amidst the present financial crisis, aid and funding for food, climate change and development will be reduced/lose priority, despite the huge numbers of people affected.