It is time for breaking the chains of oppression that hold people bound and for restoring full human dignity to those for whom it has been taken. The ad urges President Clinton and Congress to cancel impoverished nation debt outright, freeing them to use their limited resources to provide adequate health care, education, food, and jobs. This is not costly. Unfortunately the discussion is bogged down in the controversy surrounding IMF policies and the cries of the poor threaten to be drowned out. There is little chance of ever recovering those loans.
Debt service is really too burdensome.
Even before the news of Hurricane Mitch energized our feelings of compassion by bringing the images of destroyed homes, crops and innocent, poverty struck children directly to our TV sets, Honduras spent more on debt relief than on health and education combined. After all, these nations need ongoing infusions of credit. Some note the loan proceeds never went to the poor in the first place. Corruption is so deep seated in many emerging economies that much of the money found its way to officials bank accounts. The risk is that only lip service is being paid to poverty reduction.