Africa Debt Relief
I am encouraged to hear President Clinton speak so adamantly of debt relief for African countries (March 17). I agree that these countries deserve debt forgiveness to reinvigorate their economies. My concern is that we will use the same failed IMF model of providing enhanced structural adjustment facility loans.
These loans provide lower interest rates to highly indebted countries. Unfortunately, these programs have not only had disastrous social consequences but have failed in their aim to reduce debt and increase per capita growth rates.
Debt relief should produce just that, relief, not a new burden of meeting the requirements of structural adjustment policies.
JOHN REYNOLDS, Los Angeles
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