Plea to new finance minister over world debt

The new Minister for Finance must lobby the World Bank for the cancellation of the entire Third World Debt, protesters gathered…

The new Minister for Finance must lobby the World Bank for the cancellation of the entire Third World Debt, protesters gathered outside the Dail said today.

Around 50 members of the Debt and Development Coalition gathered outside the gates of Leinster House in advance of today's Cabinet reshuffle.

"The new minister for finance is our representative at the World Bank and the International Monetary Fund. We want him to ask for 100 per cent debt relief without any condition and without taking away the aid already available,"  spokesman Mr Eamon Stack said.

He said countries such as Zambia were paying one third of their revenue to service debts while average life expectancy had fallen to 37 years in the past decade.

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The Labour Party's finance spokeswoman Ms Joan Burton said the people of Ireland wanted a different approach to debt relief from the Government. "I hope the Minister for Finance will go to the World Bank as a persuader for the justice of debt cancellation. At the moment I think the shots are still called by people who don't understand the condition that people in Africa are living in," she said.

Ms Burton added that it was possible for these countries to lift themselves out of poverty if they were given a chance.

"If you look back at Ireland 30 years ago we weren't exactly at the top of the economic list. But with loans, grant aid, investment in education and basic services we've transformed our own country. In the case of many African countries it might be a bit slower but a lot of them have the capacity to do it."

The protesters marched to the Department of Finance to hand in their postcards for debt relief, along with a petition, to the incoming minister.