The United States is the only major country that has not pledged its share to the global debt reduction, which would flow through the International Monetary Fund, the World Bank and various regional development banks. European countries, which have moved more swiftly, made their commitments contingent on U.S. action. So, if the U.S. reneges on the deal, other creditors and other creditor governments will also back off. Honduras pays creditors four times the amount it spends on health care. Both countries have qualified for debt relief, but they have not received it because Congress has not appropriated money to the international effort.
Religious leaders say their campaign to eradicate poverty is rooted in biblical tradition.
But the year 2000 isn't just another Year of Jubilee, it is a super Jubilee given that it is the millennial year. Mr. Gramm acknowledged the weight of the religious lobbying. He was targeted by name on Mr. Robertson's 700 Club program. Speeding up the pace The debt-relief plan began in 1996 when the World Bank and IMF suggested a comprehensive approach for the first time to help 41 of the world's poorest and most heavily indebted countries. At the 1999 meeting in Germany, the nations decided to hasten the pace but narrowed their list of eligible countries to 33.