13 Jul 2005

Cancel all debts of African, Caribbean and Pacific, urges Solomon Islands

4:50 pm on 13 July 2005

Solomon Islands wants the European Union to cancel all the outstanding debts of all African, Caribbean and Pacific countries.

The Solomons' Planning and Aid minister, Fred Fono said the Group of Eight rich countries' recent write-off of debt for African countries should be expanded to Caribbean and Pacific states.

Mr Fono says some of the ACP Group of countries are in the group of least developed nations of the world and live below the poverty line.

He says some members of the ACP group have small and fragile economies, which he says are marginalised when it comes to globalisation and international trade.

Mr Fono argues the European Union should consider re-examining debt cancellation, through its connection with the G8 Group of countries.

The minister says this will greatly assist ACP countries in their development efforts in particular to achieve their Millennium Development Goals.