To place ourselves in solidarity with the debtors of the world, rather than with the so-called wisdom of its creditors, is a major test of our loyalty to Jesus Christ and our willingness as a communion of churches to live by what he teac hes. The biggest burden confronting many nations is the massive debt they owe to the world's richest nations and international financial institutions. Voices from debtor nations among the Lambeth participants illustrate powerfully the overwhelming impact of massive debt repayments on the lives of their peoples. They point to meagre spending on health and education in countries where a major proportion of the national income is diverted to debt repayment. They cite also huge unemployment problems, poverty, homelessness, inadequate housing, harmful effects on the lives of women and children, and trafficking in drugs and arms.
Common language speaks of remission or forgiveness of debt.
But bishops from the debtor nations, deeply aware of the devastating impact of debt on their people, call neither for debt forgiveness, nor for debt remission. They seek the cancellation of debt as a matter of justice, human dignity and equality for all who share life on this planet and who are equal bearers of the image of God. In sum,they call for release for those who are captive to economic forces beyond their control, and liberty from their oppression by the chains of debt.