Another response:

Yes, the best port of call for answers to questions like that (and that is a very common question) is to go straight to the source.

But to answer that question briefly, yes, there are considerable checks and balances. It is part of the conditions of the cancellation of debt that they be accountable for where the money goes. Part of those conditions require that it go towards things like health and education, that directly benefit the community.

It is worth noting too that the amount and scope of the recent debt forgiveness, while looking impressive, is actually not very much in the grand scale of things. Many HIPC (heavily indebted poor countries) missed out on the deal, largely as it was focussed on Africa. Not to put a dampener on the whole thing – it was a significant victory – but it’s important not to get complacent and think that the decision that was made (which still needs to be ratified) is enough.

As for “will it alleviate third world poverty” – by itself, no it won’t. It will certainly help, but what is also needed is fairer trade conditions and more and better aid. That is why it is essential that the campaign goes on to make the G8 leaders stand up and take the courageous decisions necessary to make this happen.

Hope that helps.