Canada holds up Congo’s fight against poverty (Jubilee Debt Campaign)

Press release denouncing the Canadian government’s move to postpone debt relief for the Congo, based on a dispute involving Vancouver-based First Quantum Minterals, Ltd. The debt relief was subsequently granted.
 

[From the release:]

The postponement has come about at the request of Canada, because Canadian
mineral firm First Quantum is in dispute with the government of DRC over mineral
rights.

Nick Dearden from Jubilee Debt Campaign said: 

“It is  utterly outrageous that Canada is holding up poverty relief to one of the poorest countries in the world in order to protect its own corporate interests.

“The history of DRC is a woeful tale of exploitation; that a country of  such immense natural wealth has become the seventh poorest country in the world  is a terrible indictment of our economic system. It’s time we owned up to that  history and – on the 50th anniversary of Congo’s independence, finally allowed  DRC to control its own resources and destiny.

“The experience of DRC  also goes to show that debt relief schemes are still operating in the interests  of the ‘creditors’. DRC has spent years shelling out tens of millions of dollars  in debt ‘repayments’ while also implementing economic conditions which make its  economy more attractive and ‘safe’ for foreign investors. This is not most
people’s idea of ‘debt cancellation’.” Read the whole press release.

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This entry was posted in First Quantum, Oh, Canada: Canadian policy, Social Costs, Private Profit, Uncategorized and tagged . Bookmark the permalink.

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