Forgive us our debt: Jubilee USA finally gets its daily bread
While the Frost family dominated many conservative minds and Ann Coulter offended everyone else, the folks at Jubilee USA drew a successful forty-day focus on debt relief to a close. And incredibly Rev. David Duncombe participated for the entire Cancel Debt Fast. That's right he fasted for 40 day and 40 nights. Here's video of Rev. Duncombe talking about the experience about sixteen days into it.
Yesterday, due to Jubilee USA's six week lobby efforts, Representatives Spencer Bachus (R-AL), Donald Payne (D-NJ), Maxine Waters (D-CA) and Emmanuel Cleaver (D-MO), also did a one day fast in support of debt canceling legislation. During the 40 day fast, the Jubilee Act for Expanded Debt Cancellation and Responsible Lending got 20 additional congressional sponsors to:
* Cancel the debts of up to 26 additional nations not currently eligible for debt cancellation, provided that they demonstrate plans to spend the money wisely on poverty reduction; * Cut harmful requirements that are delaying access to life-saving debt relief for countries like Haiti and Liberia; * Call on the Treasury Secretary to address the challenges presented by so-called vulture funds, one of which recently extracted $15 million from impoverished Zambia; and * Establish policies for responsible lending to avoid odious and unjust debt accumulation in the future, beginning with an audit of past odious debts by the Government Accountability Office.
All Africa.com picked up the press release.
Comments
Truly inspiring!
Posted by: Beth | October 18, 2007 09:25 AM
The invisibility of the issue of debt forgiveness is a mystery to me. Poor people suffer because of predatory lending by rich nations, mismanagement by unelected governments, and the legacy of unjust history. On the other side of this are simplistic platitudes about responsibility, which are ignorant self-assurances to people who benefit from the oppressor's legacy.
Posted by: Dan | October 18, 2007 09:33 AM
Great ideas, suggestions and recommendations!
In every rule, there is an exception. Maybe, that would happen to the said situation. A forum, dialogs and serious talks would solve the issue for better result and granting of their request.
Those listed things are good if it will be truly enforce in the affected poor places in which they can no longer pay their debt due to their status. If do so, those countries must prove that they will use the government’s money in beneficial and economical projects and programs for the improvement of the lives of the needy people.
Other option and solution in my opinion is that the creditor can provide help to them like livelihood programs or small business and can ask them to pay the loaned money but only the principal amount in long term basis of payment.
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Posted by: No Fax Payday Loans - David | August 26, 2008 06:35 AM
Acquiring debt means financial obligation of the borrower on the due date. However, due to some factors, a person became delinquent. I think there are possible grounds and reasons for the termination of a liability contract. If this happens, it is very unfair on the part of the issuing financial institution.
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Posted by: David Johnston | October 2, 2008 07:08 AM