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Debt relief |
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| Bono may be celebrated for browbeating world leaders into funding debt relief for developing countries, but his Irish rock band is facing criticism for switching its financial affairs overseas to avoid paying higher taxes," reports The Guardian. Thirteen countries have signed on to his Petro-Caribe Initiative, which offers low-cost fuel, debt relief, subsidized loans, and funding for poverty programs. Too little was done to write off illegitimate debts or remove the harsh conditions attached to debt relief or to reform the international trading system," said Kairos in a written analysis of the implications of the summit held July 6-8 in Gleneagles, Scotland. |
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