The Australian Treasurer, Mr. Frank Crean, has called on the rich nations of the world?
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CU Speaker for Australia
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AUSTRALIAN SPEAKER "one thing governments can do....developing countries..aid.....means to repay...cuts on imports...cuts announced in August of this year...the process of facilitating the growth...raised by Mr. Mcnamara...field of responsibilities of Mr. Littlebury...inflation occupying Mr. Vittleby?...monetary reform committee of 200 ... independent nations like Australia are represented"
"In some respects...must start at home"
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Background: The Australian Treasurer, Mr. Frank Crean, has called on the rich nations of the world to give, rather than lend as much as possible of their aid to developing nations.
Addressing the joint annual meeting of the World Bank and the International Monetary Fund at Nairobi, the Kenyan capital, on Wednesday (September 26th), Mr. Crean said: "In Australia's case, I am happy to say, virtually all our aid has been supplied on a grant basis."
In addition, he said, Australia had passed the financial aid target of one percent of gross national product for two of the past three years, and had brought official government aid within striking distance of the official target of 0.7 percent of the GNP.
Mr. Crean said: "Our official aid figure inn 1972 was 0.61 percent, we have promised to reach 0.7 percent. This we will do."
Apart from the question of international monetary reforms, one of the main problems facing the conference is the contributions by the rich nat??? to the World Bank's aid programme for developing nations.