Switzerland's view on Debt Relief for Africa.

Essay by penginHigh School, 10th grade October 2003

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Switzerland recognizes and acknowledges the problem of debt relief in Africa. We have been playing a key role in finding a solution to this problem. In general, we feel that an international organization needs to be created and it would follow guidelines put forth by this committee.

Switzerland believes that an international organization needs to be created to handle and mange all requests for debt relief. This organization would follow guidelines put forth by this committee. However, it is encouraged that this organization creates their own guidelines and regulations. Furthermore, these guidelines are not rules but only guidelines for the organization to follow. We feel that each country's request needed to be considered independently and individually. As a country is approved for debt reduction, an individually designed program should be created.

Switzerland recognizes and detests money laundering and corruption found in government. Currently in Switzerland, we have active programs that target and contain these criminals.

Stronger regulation and prosecution of money laundering should be established. To deter laundering of debt-reduction funds, monitoring organizations such as Uganda's Poverty Action Fund need to be created.

Recognizing past examples of countries such as Russia that filed complete bankruptcy, Switzerland feels that a clean start would be the best solution to this problem. However, we think that this idea is not feasible and should not be considered an option. These debts should not be forgotten and some form of monetary payment should be made. Acknowledging that many of these debts were laundered and that the growth of will be hindered by debts, short-term solutions to this problem need to be implemented. By dedicating less money on repaying loans, African nations can focus funds on developing itself.

Switzerland calls upon the United Nations University in Tokyo to complete their study conducted on debt relief.