Spin, Lies and Corruption?

George Monbiot, who's normally worth reading casts some serious question marks in the direction of the recent debt-relief announcement. If he's right we are carrying on in the kind of way that enoucraged these countries to become heavily indebted in the first place; imposing policies which do not work because they really serve the purposes of global [read: 'western backed'] finance. "There is an obvious conflict of interest in this relationship. The G8 governments claim they want to help poor countries to develop and compete successfully. But they have a powerful commercial incentive to ensure that they compete unsuccessfully, and that our companies can grab their public services and obtain their commodities at rock bottom prices. The conditionalities we impose on the poor nations keep them on a short leash.
That’s not the only conflict. The G8 finance ministers’ statement insists that the World Bank and IMF will monitor the indebted countries’ progress, and decide whether or not they are fit to be relieved of their burden.(9) The World Bank and IMF, of course, are the agencies which have the most to lose from this redemption. They have a vested interest in ensuring that debt relief takes place as slowly as possible."
It really does indicate that we need some way of doing global financial stuff that isn't in the pockets of the west and particularly of western corporations.
George Monbiot � Spin, Lies and Corruption: