The international Jubilee movement has had tremendous success in the last few years in bringing the worlds attention to the unbearable burden of debt imposed on the worlds poorest countries. Together we have made some gains in achieving actual debt relief that is making a difference in real peoples lives. Yet much more is needed. The majority of the debt of the poorest nations has not been cancelled.
Many countries still spend more on debt service than on health care and education.
It is time for the World Bank and the IMF to use their ample internal resources to cancel the debts owed them by the most impoverished countries. Harmful and failed economic policies, like user-fees for health and education, should not be imposed as conditions for debt cancellation. Rather, we should seek to insure that the priorities of the people in these countries are met for investments in health care, schooling and clean water. The Jubilee USA Network is calling for President Bush to use U.S. leverage to make the World Bank and the IMF cancel the debts of the poorest countries now using their own resources. E-Mail us with your comments, suggestions, contributions, etc .