The American Enterprise

Foolish charity.(Scan)(Brief Article)

Anthony Okogie, Catholic Archbishop of Lagos, Nigeria's capital, told African reporters in July that the debt relief granted to his country at the insistence of "Live 8" celebrities and a variety of politicians--a total of $18 billion, or 60 percent of what the country owes its lenders--will "not hold anything positive for the economy." He described the measure as unnecessary and likely only to enrich those at the helm of Nigeria's government, which is rife with corruption, bribery, and greed. Lenders should have insisted on "certain conditions tied to debt relief," according to the cardinal--echoing President Bush's initial call for democratic and free-market reforms as a condition of assistance. …

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