Under huge pressure from the Jubilee 2000 movement and the wider development
community, government ministers as well as international financial
institutions such as the World Bank and IMF have made commitments to reduce
the external debt of many heavily indebted and poor countries.

However these efforts have been insufficient. Many countries are still
paying more on debt than what they spend on poverty reduction. Northern
governments tell us now that they have done enough and do not see the need
for further action.

In the run-up to the Genoa G8 Summit and against a background of 'debt
fatigue' we are launching this online discussion forum. Our aim is
to increase understanding of current issues for NGOs, policy-makers
and interested citizens. We want to map out the way ahead, allow
contributors to bring in new ideas and re-animate the debt debate prior to
the World Bank and IMF meetings in Washington.

This online event will cover four topics:

TOPIC 1
>From 18 July to 10 August: As we approach Genoa the G8 seem to have lost
interest in the debt issue. Have bilateral creditors done enough? If not,
how should the issue be brought back to the top of the agenda?

TOPIC 2
>From 13 August to 31 August: Less debt versus more aid: bilateral
creditors seem unwilling to provide both further debt reduction and greater
aid: what kind of trade-off after Genoa?

TOPIC 3
>From 3 September to 21 September: "Is there a necessary trade-off between
deeper debt cancellation for HIPCs and broader debt reduction for more
countries (for instance Lower Middle Income Countries). If so, which of the
options should be favoured?"

TOPIC 4
>From 24 September to 12 October: Debt cancellation and poverty reduction:
Should the IMF and World Bank debt relief initiative be linked to poverty
reduction strategies?

To find out more and to register please go to DebtChannel.org
www.debtchannel.org .

Please feel free to send this invitation to colleagues and friends who may
be interested.

We look forward to your contributions, ideas and comments.

Jonathan Wolsey with Ted van Hees, Francis Lemoine and Rob Mills
Eurodad moderators for the OneWorld DebtChannel.org Discussion Forum