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CREDITORS FAILING THE WORLD'S POOR, SAY JUBILEE CAMPAIGNERS
DEBT RELIEF CAMPAIGNS ACCUSE NATIONS AND INTERNATIONAL AGENCIES OF BACKING OUT ON MULTILATERAL COMMITMENTS
(Website 07-01-03)
Two years to the day after the millennium deadline set by the international Jubilee 2000 campaign, the co-founders of the campaign are accusing creditors of reneging on their commitment to cancel the debts of the world's poorest nations.
Jubilee 2000, one of the most successful global civil society campaigns ever, called for the cancellation of the unpayable debts of the poorest countries by the year 2000. In response world leaders promised to write off $110bn. Yet two years on, less than $36bn has actually been cancelled.
Ann Pettifor, Director of Jubilee Research and co-founder of the Jubilee 2000 campaign, said “In the run up to the year 2000, no less than 24 million people called for justice for the world’s poor. We were led to believe that by now $68 billion of unpayable debts would have been written off. Yet two years on only half of this has been cancelled; the remainder blocked by bureaucrats in Washington, protecting the interests of creditors. ”
“What is so depressing is that our research shows that given a chance, debt relief works. In 10 African countries, money from debt relief has boosted spending on health and education”.
Jubilee Research continues to work with sister organisation Jubilee Debt Campaign (JDC), whose Board includes other Jubilee 2000 co-founders Martin Dent and Bill Peters, to keep up the pressure on creditors
JDC Co-ordinator, Ashok Sinha, said “According to promises made by world leaders in Cologne, a third of the colossal $205bn owed by the 42 poorest and most heavily indebted countries should have been cancelled by now. Whilst insufficient, this would at least have gone some way to providing a fresh start for these desperately poor countries. But today, we find that less than 20% of this debt has been cancelled. How much longer must people in Africa die, because rich country creditors demand that governments prioritise debt repayments over spending on AIDS, Malaria, clean water and sanitation?”
For more information, contact:
Ann Pettifor, Jubilee Research (07770 886146)
Romilly Greenhill, Jubilee Research (07812) 605131
Ashok Sinha, Jubilee Debt Campaign (07905 139 140)
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