Impunity in the world of finance is no more acceptable than impunity for egregious human rights violations. Establishment of a transparent and participatory process to develop mechanisms to monitor international monetary flows and prevent recurring, destructive cycles of indebtedness. Doing right is its own reward, but the benefits of debt relief would be evident in our own country as well. Relieving the pressure of debt and debt-driven structural adjustment programs would diminish social strife in many countries and our world and lessen the inclination of impoverished countries to exploit natural resources unwisely for export or to lower labor standards in order to attract foreign investment. But building the political will in the U.S. Congress to support the appropriation of money for increased debt relief will be a major undertaking.
Economic decisions involve moral choices and are subject to moral accountability.
Our faith insists that public policies in the realm of economics as in all others be shaped and evaluated according to the standard of God's love and mandate for justice. Throughout the Hebrew scriptures, right worship and fidelity to the covenant relationship with God are judged by the community's treatment of the poor and marginalized. The demands of solidarity in an increasingly globalized world argue for Third World debt to be a concern for all of us. Sojourners, May-June 1998, Vol.