Drop the debt!

Garrigues, Lisa
February 2006
YES! Magazine;Winter2006, Issue 36, p32
The article reports on a multiyear campaign launched by religious organizations from around the world to convince international financial organizations such as the International Monetary Fund, the World Bank, and the Inter-American Development Bank to cancel the debt owed by developing nations to enable them to achieve the Millennium Development Goals of the United Nations. The campaign also seeks to challenge the existing global economic model, which has given rise to the debt. International financial organizations have begun to respond to the pressure placed on them by the advocates of debt cancellation. The International Monetary Fund and the World Bank have agreed to forgive the debt of 18 of the world's poorest countries. Although this development has been well received by debt relief advocates, they say this is not enough. In the United States, Jubilee USA is urging citizens to contact legislators to get them to support a more comprehensive debt relief bill, the Jubilee Act.


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