The international Jubilee movement has had tremendous success in the last few years in bringing the world's attention to the unbearable burden of debt imposed on the world's poorest countries. Together we have made some gains in achieving actual debt relief that is making a difference in real people's 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. The Jubilee USA Network is calling for President Bush to use U.S. leverage to make the World Bank and IMF cancel the debts of the poorest countries now using their own resources. I am calling to ask President Bush to make the World Bank and IMF cancel 100 percent of the debts owed them by the poor countries using their own internal resources and not more taxpayer money so that monies can be used for primary health care and education.