And instead of meeting their obligations, the Group of Seven countries and their banks are demanding repayments of 232 million dollars a day in interest payments, the NGO emphasizes in a statement
Its rich most industrialized countries G7 the world’s poorest countries are owed about $13 trillion in development aid and support to fight climate change, the non-governmental organization estimates Oxfam.
And instead of meeting their obligations, the Group of Seven countries and their banks are demanding repayments of $232 million a day in interest-free debt, the NGO said in a statement released today, ahead of the G7 summit, from Friday to Sunday, in Hiroshima, Japan.
“The rich G7 nations like to project themselves as saviours, but what they do is double standards — they follow one set of rules and their former colonies are forced to follow another,” said Oxfam’s interim executive director, Amitabh Behar.
“It is the rich world that owes the global South. The help he promised decades ago, but never gave. The huge costs due to climate change, caused by the mindless burning of fossil fuels it does. The enormous wealth he acquired, building it on colonialism and slavery.”
Oxfam recalled that the meeting is being held at a time when workers’ wages are being cut, food prices are skyrocketing and world hunger is spreading.
For the first time in 25 years, extreme wealth and extreme poverty are increasing at the same time, he pointed out.
The G7 countries have broken their pledge to give $100 billion a year to help poorer countries deal with the effects of climate change, the NGO claims, which estimates that their emissions of gases such as carbon dioxide have caused 8.7 trillions of dollars in middle- and low-income countries.
In 1970, rich countries had pledged to provide 0.7% of their GDP annually as development aid. But they did not give 4.49 trillion. dollars, i.e. more than half of the amount they promised.
“That money could make a difference,” according to Mr. Behar.
They would cover the costs for children to go to school, to build hospitals, to have life-saving drugs available, to gain access to drinking water, to build better infrastructure, to improve agriculture and food security, and so on. , listed.
“The G7 must pay its debts,” added Mr Behar. “This is neither goodwill nor charity — it is her moral obligation.”
Source :Skai
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