Picked this from an old report.The G-8 Summit in Kananaskis in June pledged $6 billion a year in "aid" to Africa by 2006. The low figure caused Phil Twyford of Oxfam to say: "We're extremely disappointed by this wasted opportunity. They're offering peanuts to Africa--and recycled peanuts at that."
In 1999, debt service payments from Africa, the poorest region in the world, to rich Western countries totalled $35.7 billion. Total African debt stands at a crippling $300 billion.
According to The Guardian (U.K.), "African leaders invited to the G-8 gathering in Kananaskis expressed deep disappointment that the plan did nothing to open Western markets, cancel debts of the poorest countries, or provide the financial aid needed to meet the UN's targets for tackling global poverty by 2015."
Behind the shameful peanut-throwing lurks a deadly Western policy towards Africa. The U.S. government, which dominates the G-8, has--through the Pentagon, the CIA, the World Bank and the IMF--systematically demolished African economies, health and education sectors, and fuelled 11 wars on the continent with arms transfers and military training.
This imperial strategy has killed more than four million Africans and allowed the U.S. and the West to grab Africa's abundant natural riches cheaply. Nearly 80% of the strategic minerals the U.S. requires are found in Africa, including 90% of the world's cobalt, 90% of the platinum, 40% of the gold, 98% of the chromium, 64% of the manganese, and one-third of the uranium. These minerals are needed to make jet engines, cars, missiles, electronic components, iron and steel.
Africa also accounts for 18% of U.S. oil imports, compared to 25% from the Persian Gulf, with Nigeria and Angola, respectively, being the fifth and ninth largest exporters to the U.S.
"One man gives freely, yet gains even more; another withholds unduly, but comes to poverty. A generous man will prosper; he who refreshes others will himself be refreshed." Rev Canon Karanja.