G8 relieve debt of poor nations

G8 finance ministers (including Gordon Brown) have agreed to cancel the debt of many of the world's poorest countries.

'Announcing the deal at a meeting of G8 finance ministers in London, the UK's Gordon Brown said now was "not a time for timidity but a time for boldness".'

I applaud this move. Alleviating poorer nations of debt will allow them concentrate greater funds in order to help their own people.

As a libertarian, I'm no fan of state-administered aid. Nonetheless, I believe this act by G8 finance ministers will permit poorer nations to help themselves. What's also needed are the abolition of tariffs and non-tariff barriers, so African countries can trade freely within Western markets.