International development agency, Oxfam New Zealand has welcomed the proposal by the G8 to cancel $NZ145 billion of Iraq’s foreign debt. But Oxfam NZ Executive Director Barry Coates pointed out the deep inconsistency in the G8’s approach. African countries have waited for more than two decades for debt cancellation. Now they are being offered a pittance as a sweetener to persuade other countries to back the US proposal on Iraq debt.