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To: Bobby Yellin who wrote (34879)	6/4/1999 10:58:00 PM
From: lorne	Read Replies (1) \| Respond to of 116764

Gold council says IMF sales plan will not work. Friday June 4, 7:42 AM yahoo.co.uk

To: Bobby Yellin who wrote (34879)	6/4/1999 11:52:00 PM
From: Alex	Read Replies (3) \| Respond to of 116764

Tutu calls on IMF to end Third World debt now Copyright © 1999 Nando Media Copyright © 1999 Associated Press HULL, England (June 4, 1999 6:34 p.m. EDT nandotimes.com) - South African Archbishop Desmond Tutu criticized the International Monetary Fund and the World Bank on Friday for failing to help free developing nations from international debt. Queen Elizabeth II had presented Tutu with the Wilberforce Medallion, named after British anti-slavery campaigner William Wilberforce, earlier in the day in recognition of his work for human rights and democracy in South Africa. Delivering the annual lecture named for Wilberforce, the former anti-apartheid campaigner said Third World debt is now running at $2 trillion. "Today, most of the Third World is held in bondage in a slavery as awful in its devastating consequences as that against which William Wilberforce campaigned so assiduously and so successfully," Tutu said. "The poor countries are shackled to poverty, illiteracy, disease, hunger and death." Tutu said the IMF-World Bank debt relief initiative offered to 40 nations indicates a policy shift, but no country has benefited yet. "The conditions are too stringent," he said, and too closely tied to IMF requirements that governments slash spending on domestic programs - "which I have myself found obnoxious as they have regarded people as expendable, as a means not an end." Tutu said debt relief should be implemented in two stages. First, there should be a moratorium on debt repayments for six months, "when the money would be used to benefit the people directly." Then leaders of developing nations must increase democratic and human rights and implement "a vigorous campaign to demilitarize." Once these conditions are met, he said, the debt should be "canceled unconditionally."