News Archives » debt cancellation

$1.2 Billion in Haitian Debt Cancellation: A Welcome Victory July 1st, 2009

Extended Campaign to Win Relief for Haiti Finally Pays Off

The Oblate JPIC Office joins other members of the Jubilee USA Network in welcoming the news that, at last, Haiti has reached “completion point” in the Heavily Indebted Poor Countries program.

This step means the cancellation of $1.2 billion in external debt owed by the impoverished island nation to bilateral and multilateral lenders including the IMF, World Bank, and US government. The Boards of the World Bank and IMF met on June 30 to formally approve Haiti’s debt stock cancellation under HIPC and the Multilateral Debt Relief Initiative.

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72 Members of Congress Urge World Bank to Cancel Haiti’s Debt February 27th, 2009

Debt Cancellation Will Help Haiti Avoid National Collapse, Give Fragile Democracy a Chance

A bipartisan group of 72 US Representatives called on World Bank President Robert Zoellick late yesterday to immediately suspend all scheduled debt repayments from Haiti and grant complete debt cancellation to the impoverished nation. Haiti currently sends $1.6 million to the World Bank every month while thousands of Haitians starve and the nation struggles to fill a severe budget gap that threatens the struggling democracy’s stability.

The letter to President Zoellick was circulated by US Representative Maxine Waters (D-CA) as well as Representatives Barney Frank (D-MA) and Spencer Bachus (R-AL), Chairman and Ranking Member of the House Financial Services Committee. The Representatives express deep concern about “the urgent humanitarian needs of the people of Haiti and the difficulties Haiti has faced in qualifying for the cancellation of its debts.” “We understand that Haiti is scheduled to send approximately $20 million to the World Bank in 2009,” the letter reads, “Clearly, this money would be better spent on basic infrastructure and poverty reduction for the Haitian people.” Signers include 72 US Representatives from across the political spectrum, including Representative Ileana Ros-Lehtinen (R-FL), Ranking Member of the House Foreign Affairs Committee and Donald Payne (D-NJ), Chairman of the House Subcommittee on Africa and Global Health, and House Foreign Affairs Committee Chairman Howard Berman (D-CA).

Download a PDF of the letter from Members of Congress to World Bank President Zoellick

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Fast Track for Wall Street Debt Relief, Slow Lane for Liberia, Haiti October 10th, 2008

Campaigners call for World Bank to call off ‘outrageous’ postponement of promised debt relief

WASHINGTON, DC and LONDON — International debt campaigners today called on rich country finance ministers meeting at the World Bank and International Monetary Fund annual meetings in Washington DC to end the outrageous delays to debt relief for Haiti and Liberia – two of the poorest countries in the world.

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Time is Running Out on the Jubilee Act! Contact Your Senator Today July 24th, 2008

Jubilee USA members worked hard to get the Jubilee Act passed in the House of Representatives last April. But, the bill must also pass in the Senate. With only one week left before the August recess, and limited legislative time this fall, your Senators must hear from you in order to make the Jubilee Act law.

Call your Senator today!

Read our Action Alert for more information and details of how you can help.

Debt Cancellation: A Victory for the World May 12th, 2008

This article by Archbishop Desmond Tutu is a plea for passage of the Jubilee Act and the need for cancellation of the international debt. The Jubilee Act has passed the US House of Representatives and is awaiting Senate action.

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Jubilee Act Moves to Floor Vote in the House of Representatives April 4th, 2008

“Must we starve our children to pay our debts?”

-Julius Nyerere, former President of Tanzania

The US House of Representatives will vote on the Jubilee Act very soon, possibly as early as Tuesday, April 8!

Please take action by calling your Representative on Monday, April 7th.

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