Many of the planet’s so called “third-world” nations owe huge debts to Western countries. Those debts require that governments pay interest on money borrowed instead of investing in health care, schools, and basic infrastructure. Much of the money loaned by Western nations was handed over to dictators and oppressive governments which the West backed politically for various reasons. Few of those governments are still in place but the people living in those nations are forced to pay so much in interest that their countries cannot afford basic human services.
Finance ministers from the world’s seven richest countries will met in early February to discuss debt reduction. Religious groups are joining anti-poverty advocates to ask the governments to simply cancel all the debt. The United States and other western nations can easily afford to absorb the loss. Frankly, the only countries that ever benefited from these loans were the Western nations that granted them. Most of the loans have already been repaid several times over. The interest payments are literally keeping food and health care out of reach for millions.
Jubilee USA Network has information on their site about an e-petition asking for debt relief and quick links to write members of Congress. Their site is filled with great information on the impact global debt has on people living in poverty across the globe. Check it out and write a letter.
Related Link: Church World Service Jubilee Debt Relief
And you shall hallow the fiftieth year and you shall proclaim liberty throughout the land to all its inhabitants. It shall be a jubilee for you: you shall return, every one of you, to your property and every one of you to your family.
- Leviticus 25:10 (NRSV)
