Gleneagles Agreement 2005

A few agreements have been reached: today`s agreement will be approved at the G8 summit in Gleneagles next month, when the heads of state and government of the G7 countries will be accompanied by Russian President Vladimir Putin. That`s because the U.S. stands out from other G8 nations in its approach to global warming. All other G8 countries and more than 100 countries around the world have signed the Kyoto Protocol on climate change. However, the United States does not want to be bound by the limit values of the agreement on greenhouse gas emissions. The traditional meeting of G8 finance ministers before the summit was held in London on 10 and 11 June 2005, with Chancellor Gordon Brown aligning himself. On 11 June, an agreement was reached on the amortization of the total debt of $40 billion, which owes 18 heavily indebted poor countries to the World Bank, the International Monetary Fund and the African Development Fund. The annual debt savings amount to just over $1 billion. War on Want estimates that $45.7 billion would be needed for 62 countries to achieve the Millennium Development Goals. The ministers said twenty other countries with an additional debt of $15 billion would be eligible for debt cancellation if they met anti-corruption objectives and continued to achieve structural adjustment conditions that would remove barriers to private investment. . . .

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