G8 Summit Pledges $20B in Aid

After the recent G8 summit, the United States and other countries pledged $20 billion to help developing nations prosper, reported the New York Times. U.S. President Barack Obama said that African countries could not blame “the legacy of colonialism” for their weaknesses, reported the New York Times.

The New York Times reported that, in comparing African countries to South Korea, Obama said that the “South Korean government, working with the private sector and civil society, was able to create a set of institutions that provided transparency and accountability and efficiency that allowed for extraordinary economic progress and that there was no reason why African countries could not do the same.”

Among controversial reports that the funds being pledged were not “new” money, Oliver Buston, the Europe director of One, an advocacy group cofounded by the musician, Bono, is reported by the New York Times as having said, “All governments should now come forward and prove the amounts they pledged here are new. They need to make clear what they will do, by when. Some countries have done this; others have not.”

Obama visited Ghana, Friday, in respect for their commitment to democracy, but also to push the message that he left with the G8 summit: Ghana and many other African countries remain “dependent on international aid,” reported CNN.

Obama also addressed the current global economy, saying, “Reckless actions by a few have fueled a recession that spans the globe,” and denied any reports claiming that the nonexistence of new sanctions on Iran failed to meet his expectations, reported the Associated Press.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s