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Kathmandu Tuesday March 27, 2001 Chaitra 14, 2057.
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Urge for unconditional debt
cancellation of LDCs
Post Report
KATHMANDU, March 26 - Leader of main opposition CPN-UML
Madhav Kumar Nepal has demanded for the unconditional debt cancellation of least devolved
countries (LDCs).
"The debt cancellation under the conditions imposed by
the International Monetary Fund (IMF) and World Bank (WB) will not be in favor of the
LDCs," Nepal said while inaugurating a regional workshop on LDCs, Monday. Debt
cancellation for the LDCs is a fundamental issue of international economic order, Nepal
said, adding that the long standing debt of the LDCs has posed barrier to their
development effort.
Inaugurating the two-day "NGOs’ Asia Regional
Consultation Workshop on LDCs III" jointly organised by Rural Reconstructon Nepal
(RRN) and Internaitonal Steering Commitee of NGOs’ Forum on LDCs, Asia Region, MK
Nepal stressed upon the issue of governance, enhancement of productivity through human
capacity building, equitable economic development, financial resources mobilization and
some pertinent issues of globallisation.
"The LDCs with their existing capacity cannot compete
in the race of the globalisaion with its present pace. Because of this, they are further
losing their resources and are being more marginalised" he added.
If the globalisaiton does not serve the LDCs in terms of
special provisions of tariff and free market, the globalisaiton further deteoriates the
economy of the LDCs, Nepal said. "This will again benefit the rich and industrialized
countries".
Highlighting the past development efforts of Nepal, Dr
Shankar Sharma, member of National Planning Commission, emphasized upon the need of
international community support on poverty alleviation program as well as various other
development efforts.
"We support the demand of the global community that
includes unrestricted access to markets in developed countries, increased official
development assistance (ODA), debt relief, increased techinical assistance, to develop
infrastructure and assistance to bridge the digital divide." Sharma said.
Explaining about the role of NGOs in the development
process in Nepal, Sharma said the governmnt is commited to foster the environment for the
growth and expansion of the NGOs and their activities.
Speaking on the occasion, Gauri Pradhan, president of NGO
federation of Nepal spoke about the necessities of an approach and modality to address the
problems of the LDCs in the new econmic order.
Referring to a WB report saying LDCs spending as much as
one fifth of their annual budgets on debt servicing , Arjun Kumar Karki, regional
representative of International Streering Commitee on NGO Forum on LDCs, demanded the
immediate cancellation of the debt of all LDCs.
Likewise, executive director of the RRN Sabra Raj Khadka,
regional co-ordinator of English speaking LDCs’ NGO Forum Florennce Kohenen, Glossy
Chakma from Bangaladesh and representive from Focus on the Global South Nicola Bullard
spoke about the the role of NGO forum in the forthcoming UN convention on the LDCs and
various issues confronted by the LDCs at present.
The United Nations is organising the third UN Conference
for the LDCs from 14-20 May in Brussels, with an objective of eradicating poverty in the
LDCs through their progressive integration into the world economy with the support of
international community.
There are 48 LDCs worldwide and nine in Asia alone. In
these countries, over half of the total population has an average daily earning less than
US$ 1.
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