Bush promises $5bn aid to combat global poverty

Financial Times ^ | Published: March 14 2002 22:13 | Last Updated: March 15 2002 08:23 | Alan Beattie

[It'salmosttolate]

Bush promises $5bn aid to combat global poverty

By Alan Beattie
Published: March 14 2002 22:13 | Last Updated: March 15 2002 08:23

President George W. Bush on Thursday sought to demonstrate his commitment to the war on global poverty by pledging a big increase in the US overseas aid budget.

In a policy speech ahead of next week's UN conference on development in Monterrey, Mexico, Mr Bush set out to counter perceptions that US foreign policy is excessively focused on security. The initiative signals a US desire to balance its war against terrorism with an attack on the conditions that nurture it.

Speaking in Washington, Mr Bush said the money - up to $5bn over three years from 2004 - would be available to countries committed to reforming their economies and stamping out corruption. "We must encourage nations and leaders to walk the hard road of political, legal and economic reform so all their people can benefit," he said.

The promise represents an attempt by the US to wrest back the initiative on global development, where it has been under fire from campaign ers and European countries for its relative ungenerosity on development aid.

The president described many of the old models of economic assistance as outdated and said the money, which will be targeted at African countries, reflected a new compact between rich countries and developing nations. US aid money tends to go to middle-income countries of strategic importance, such as Egypt, Indonesia and Colombia.

Development campaigners estimated the new programme, called the Millennium Challenge, represented an increase of around 20 per cent in the US aid budget. But the rise is still likely to leave the US near the bottom of the league of rich countries in terms of aid as a proportion of national income.

Oliver Buston, spokesman for Oxfam in Washington, said: "Any increase in aid is welcome but it falls well short of the extra $100bn a year we estimate is needed, and it is phased in gradually, whereas the money is needed now."

European Union member states yesterday agreed a deal which would see the overall EU aid effort rising by $7bn a year by 2006. German objections to the agreement, which commit all countries to raising their aid to the EU average of 0.33 per cent of national income, were overcome after Gerhard Schroder, German chancellor, intervened to support the proposal.

Most rich countries still fall well short of the United Nations' target of 0.7 per cent of national income in aid.

Clare Short, the UK development minister who has often clashed with the US on development issues, welcomed Mr Bush's promise. "It is very welcome that the US is committing to more aid, when many views have been expressed rubbishing the virtues of aid at all," she said.

[Donald Stone]

Sounds to me like Bush and his buddies were preparing for removing the border between Mexico and the U.S.

And let me guess, Arthur Andersen is going to be "doing the books" for the Mexican bank purchased by Citibank.

Sounds like one big happy family, you scratch my back and I'll scratch your back and to hell with the "Public Trust".

[DreamWeaver]

The lazy SOBs sucking off the rest of us don't want to earn any for themselves!

Yes, very true, however, if no one provides then they just MIGHT try earning it for themselves, that too is human nature. It's called self survival. Here we are trying to cut down on welfare here at home, yet we are attributing to global welfare. As Alan Keys would say " Does this make sense ?"

[Uncle Bill]

"And let me guess, Arthur Andersen is going to be "doing the books" for the Mexican bank purchased by Citibank."

---

The Mexico Fund, Inc.
"Despite the volatility of the Mexican currency market, the peso strengthened against the US dollar during the year. The exchange rate on October 31, 2001 was Ps. 9.25 per dollar, 3.7% lower than the rate at the end of 2000. A key factor in the rise in the peso was the acquisition by Citigroup Inc. of 100% of the equity of Grupo Financiero Banamex Accival (Banacci) for $12.5 billion..

"Arthur Andersen" - auditor

ARTHUR ANDERSEN, Big Five Consulting Firm
Mexico City; Guatemala; San Francisco

Senior Consultant, Advanced Technology Group

· Directed the ERP implementation for TAESA Airline and software audit for Banagro.

· Coordinated the technical training and methodologies for TESOFE main system.

· Initiated the Knowledge Management and Electronic Business lines of service including the technical sales effort for APASCO, Asista.com and Shopping Park.

· Participate on Healthcare software implementation for Banamex-Aegon; Y2K Reviews for Andersen, Hipotecaria Su Casita, BMV (Mexican Stock Exchange) and Bital bank; and Application System Selection for SHCP-SAT Mexico Tax Office.
Source

Ah, the smell of cocaine in the morning

MEXICAN HIT MAN TEAMS UP WITH CITIBANK

DEUTCH RECOMMENDED CIA INVESTIGATOR FOR CITIBANK JOB AS SHE INVESTIGATED HIM!
Note: Deutch had signed agreement to plead guilty before Clinton pardon
Note: Clinton Pardons Deutch

Citigroup to buy Banacci

Saudi prince buys $1 billion more Increases stakes in Citigroup

FEMSA is Mexico's largest strategically integrated beverage producer of beer and soft drinks
Independent Accountants - Arthur Andersen.

Depositary & Registrar of American Depositary Receipts - Citibank

Note: The Coca-Cola Kid: Mexico's Vicente Fox

PRESIDENT FOX GUARDING NARCO-HEN HOUSE?

New York Sate Supreme Court: Online Scribes Protected (Banamex vs. NarcoNews)

Darn poverty.