Good News: U.S. supports debt cancellation

[Treasure the Questions]

This appeared in this week's Sojomail:

U.S. supports debt cancellation


Some of the world's most desperately poor countries just got one step closer to serious debt relief - the U.S. Treasury is floating a proposal for the World Bank and the International Monetary Fund to cancel the debts owed to them by around 30 nations. Sojourners welcomes this progress on an issue named in its election-year petition as an essential step to fighting global poverty, one that faith-based activists have been advocating for years. (Previous debt relief aimed only at partial cancellation - and has not met even its own meager targets.) Activists point out that, contrary to stories in the mainstream media, the IMF and World Bank can amply afford to cancel the debt - for example, by revaluing their undervalued gold reserves - without harming their programs in other countries. From now until October 1, the date of a key G7 meeting, it will be important to keep the heat on for full cancellation without harmful conditions. Find out how you can help, including info about upcoming protests on September 21 and October 1, from Jubilee USA.

More information here http://www.jubileeusa.org/jubilee.cgi?path=/take_action&page=countdown_070104.html

Karin

 

[Sharp]

Amen! The OT advocates debt forgiveness. Material things do not matter. So what if we must forego a little wealth if it liberates others from a lifetime of poverty.

In the OT the year of jubilee every 50 years assured that every generation would have hope for financial freedom or their children would. This is not the same as letting a lazy person get welfare. This is letting the smartest of us in business forgive the debts of others. Wonderful!

Another advantage is that debt freedom motivates creativity and industriousness. That benefits the whole world.

 

[Echoes Peak]

Ok, by no means, am I against debt cancellation. I have certainly lived and been to enough Third World countries to see the type of lives people are living. My concern is that, what happens afterwards. Because I don't some of these countries, given their present leadership, are going to magically rebound.

 

[Treasure the Questions]

I think it needs to be monitored in some way, but it should still go ahead. They say a lot more kids are going to school in Uganda as a result of debts being cancelled. These things are never simple, though.

Karin

 

[Echoes Peak]

I hear ya. I actually lived in one of those countries that Jubilee featured...and I couldn't help but think about the widespread corruption that exists in that country's government. If someone doesn't monitor the aftermath, then I fear it will occur again. Then of course, there's the argument of how much can one interfere with a government's sovereignty...

 

[Sharp]

I hear ya. I actually lived in one of those countries that Jubilee featured...and I couldn't help but think about the widespread corruption that exists in that country's government. If someone doesn't monitor the aftermath, then I fear it will occur again. Then of course, there's the argument of how much can one interfere with a government's sovereignty...

Yes, you all are correct. What these 3rd world nations need is an infusion of free enterprise... that is, capitalism. Included in that concept is honest government and freedom. I don't think a corrupt dictatorship has any right to claim legitimacy. It doesn't bother me a bit to impose reforms on them first. The people need honest government and freedom. Then they can make their land prosperous.

 

[Echoes Peak]

Yes, you all are correct. What these 3rd world nations need is an infusion of free enterprise... that is, capitalism. Included in that concept is honest government and freedom. I don't think a corrupt dictatorship has any right to claim legitimacy. It doesn't bother me a bit to impose reforms on them first. The people need honest government and freedom. Then they can make their land prosperous.

Possibly, but more importantly need education.

 

[Treasure the Questions]

Sharp, you are behind the times! The UN even now is telling everyone to wake up and realise that Free Trade has done nothing except make rich people richer and poor people poorer over the last 20 years.

Take careful note: what the world needs now is fair trade and trade justice: trade rules that don't force poor countries to compete with one hand behind their back or hopping on one leg. That's not happening at the moment. We need things to change drastically even if it means a fall in our obscenely high standard of living, otherwise the world will become a more unequal and therefore more unstable and more dangerous place.

Wake up and smell the coffee - preferrably Fair trade coffee.

Why is it that a country that can be so progressive in some areas can also be so backward, especially when it comes to world affairs?
Karin

 

[Treasure the Questions]

Here is a link to the summary of the Christian Aid report "Taking liberties - Poor people, free trade and trade justice", which explodes the myth that free trade is the answer to poverty. http://www.surefish.co.uk/news/features/230904_taking_liberties_report.htm

 

[Sharp]

Sharp, you are behind the times! The UN even now is telling everyone to wake up and realise that Free Trade has done nothing except make rich people richer and poor people poorer over the last 20 years.


Karin

If the UN says it's true, then it's got to be false. Remember this is the organization run largely by brutal dictators and the remnants of the old communist bloc. I don't expect the truth to come from them. Sounds like another scheme by the greedy third world to get my country to pay them not to complain. I hope they just let their people be free and prosper.

On the upbeat side, debt forgiveness would do a great deal for a newly liberated nation enjoying freedom for the first time. I think of Uncle Sam's efforts to get the world to forgive Iraq's debts.

How wonderful for a new democracy to start debt free.

 

[Treasure the Questions]

If the UN says it's true, then it's got to be false. Remember this is the organization run largely by brutal dictators and the remnants of the old communist bloc.

Have you any evidence for this claim?

I don't expect the truth to come from them. Sounds like another scheme by the greedy third world to get my country to pay them not to complain. I hope they just let their people be free and prosper.

"greedy third world" On what do you base that statement?

Karin

 

[ahab]

I don’t agree with Sharp that the UN is run by brutal dictators or that free trade is particularly the answer either. I think fair trade will help and I think debt cancellation will help, but there is also greed and wars in 3rd world countries.
The problem with any of these things for us Christians is that not everyone agrees with Jesus when it comes to politics and governments. There are also areas in the world where poverty is being caused by war rather than war causing poverty.


I support fair trade but take careful note: what the world needs now above all else is Jesus.