Charlotte McQuillen, BBC NewsAn hour into the first committee session of today, the General Assembly enters voting bloc concerning debt relief. There are three papers which are being voted on, sponsored by Madagascar, the Russian Federation, and the United Arab Emirates.
The final results ended in the passing of two resolutions and the failure of one. A cap of interest rates on future debts to 15%, and the forgiveness of colonial debts from 100 years before the countries independence are the two resolutions that passed. A resolution for the alleviation of debt through means of debt swapping, NGO involvement, and debt reduction to countries in extreme situations did not pass.
No comments:
Post a Comment