The View from the Summit

Gleneagles G8 One Year Later

Published: 9 June 2006

The July 2005 G8 summit in Gleneagles delivered promises on debt, aid, trade, security and climate change. This report examines progress one year later. Debt cancellation has resulted in extra spending on health and education in poor countries, but is not reaching enough of the world's poor. Aid figures show huge increases but include large debt write-offs for Iraq and Nigeria. Oxfam is concerned that the growth in aid in key G8 nations is not enough to meet the promises made at Gleneagles. G8 nations have so far failed to overcome trade deadlocks that would allow poor nations to benefit from a globalised economy. The pace of climate change talks has increased, but not the action. And one year on there is still no international agreement on standards for arms transfers. As G8 finance ministers prepare to meet this weekend in Russia, poverty must be kept on the agenda.