Jubilee Justice Part III

In this series on "Jubilee Justice" written by Sr. Ann Oestreich, we invite you to learn more about the crushing burden of debt on the world's poorest countries. We also encourage you, your family, friends, and students to join with others who are trying to do something about the debt crisis. A set of helpful resources is suggested. This list will remain there throughout the series. If you know of other appropriate resources on this topic, please tell us so that we can add them to the list.

V. What is Jubilee 2000 and What Does It Hope to Accomplish?
The biblical traditions calls for a Jubilee year, when slaves are set free and debts are canceled. As the new millennium approaches, we are faced with a particularly significant time for such a Jubilee. Many impoverished countries carry such high levels of debt that economic development is stifled and scarce resources are diverted from health care, education, and other socially beneficial programs to make debt service payments. Much of the debt they carry is the result of ill-conceived development, flawed policies that creditors required of recipient countries in exchange for asistance, and shortsighted decisions of their own leaders. Much of the borrowing benefited only the elite in receiving countries, whereas the burden of paying the debt is falling upon the most impoverished members of society.

The Jubilee 2000/USA Platform
Recognizing that many of these debts are unpayable and exact a great social and environmental toll, the Jubilee 2000/USA Campaign calls for a time of Jubilee and cancellation of debt that includes:

1. Definitive cancellation of the crushing international debt in situations where countries that are burdened with high levels of human need and environmental distress are unable to meet the basic needs of their people or achieve a level of sustainable development that ensures a decent quality of life;

2. Definitive debt cancellation that benefits ordinary people and facilitates their participation in the process of determining the scope, timing, and conditions of debt relief, as well as the future direction and priorities of their national and local situations;

3. Definitive debt cancellation that is not conditioned on policy reforms which perpetuate or deepen poverty or environmental degradation;

4. Acknowledgment of responsibility by both lenders and borrowers, and action to recover resources that were diverted to corrupt regimes, institutions and individuals;

5. Establishment of a transparent and participatory process to develop mechanisms to monitor international monetary flows and prevent recurring destructive cycles of indebtedness.

The millennial year 2000 is the target date to bring about major debt relief for the world's poorest countries. National campaigns to accomplish this goal currently exist, for example, in countries such as England, Scotland, Canada, the Philippines, South Africa, Peru, Australia, Ireland, Germany, and the United States. All of these countries call for eliminating the unpayable debt of the world's poorest countries by the end of the year 2000, without conditions that will further harm people living in poverty or the environment. The international scope of this movement means that advocacy efforts can be coordinated throughout the world for maximum effectiveness.

The Jubilee 2000/USA Campaign was launched in Denver at the Summit of the Group of 8 Governments in June 1997. The USA Campaign grew out of the Religious Working Group on the World Bank and the IMF, a coalition composed or representatives of some forty Catholic and Protestant organizations who have been collaborating on debt relief for several years. The Campaign collaborates with the U.S. Catholic Conference and the National Council of Churches, and hopes to have similar working relationships with members of the Muslim and Jewish communities.

Because of its political and economic roles in the world community, the U.S. government's position on debt relief is critical to the success of the worldwide Jubilee movement. Motivating the U.S. government to support a definitive cancellation of the crushing debts of poor nations will require a vital Jubilee 2000/USA campaign with active participation by individuals and groups throughout the country.

VI. What Has Already Been Accomplished? What Remains to be Done?
Since the Pope's call for a jubilee year and his repeated emphasis on the need for the cancellation of unpayable debt, several world leaders have taken heed. The Pope has held meetings with World Bank President James Wolfensohn and IMF officials to urge them to cancel debt and promote development in the worldÕs poorest countries. He has also met with proponents of debt relief, including Ann Pettifor, leader in the Jubilee 2000 movement in Great Britain, rock star Bono and retired heavyweight champion Muhammed Ali.

World leaders have heard the call of religious leaders and the Jubilee 2000 movement and are inching toward meaningful debt relief. In March 1998 President Clinton visited Africa and spoke eloquently of the need for debt relief and poverty reduction. The June 1998 G-7 meeting in Birmingham, England and the June 1999 G-7 meeting in Cologne yielded small but significant steps toward debt relief. In the U.S. Congress, eight bills calling for cancellation of debts owed to the United States by the world's poorest countries and some measure of multilateral debt relief are moving through the legislative process. Massive demonstrations have been held throughout the world to keep the issue of debt relief on the forefront of the legislative and economic agenda of the creditor nations.

At the end of September 1999, at the close of the annual meetings of the World Bank and the International Monetary Fund, President Clinton addressed those gathered and called for 100% cancellation of the debts owed to the U.S. He also called for deeper, broader, and faster debt relief for developing nations and a commitment to poverty reduction. This is a very hopeful sign; the next step for people in the United States is to urge Congress to implement the President's call as quickly as possible. Lives are at stake; there is no time to delay.

This is one of the first things that remains to be done. People in the richest nations, including the United States, need to stand in solidarity with our sisters and brothers in the developing nations and join them in their cry for debt cancellation now. Following the tenets of the Jubilee 2000/USA, we should request immediate cancellation without conditionalities (structural adjustment policies) that only serve to deepen poverty, block access to health care and education, and prevent developing nations from breaking the cycle of debt.

We need to continue to study the causes of debt and poverty in our world. We need to carefully examine the proposed legislation moving through Congress and express broad support for total cancellation of debt owed to both the United States and the World Bank and IMF. We need to make known the Holy Father's position on debt relief and jubilee in our churches, our families, and our cities.

The United States Catholic Conference (USCC) has assembled a packet of materials entitled the "Catholic Campaign on Debt." These materials are intended for use by dioceses, parishes, schools, and other groups. To obtain the USCC packet, contact the United States Catholic Conference, 3211 4th Street NE, Washington, DC 20017-1194. Phone: (202) 541-3185.

Sr. Ann Oestreich, IHM, serves as Congregational Justice Coordinator for the Holy Cross Sisters of Notre Dame, Indiana.

RESOURCES FOR JUBILEE 2000 AND DEBT RELIEF:

Banking on Life and Debt, a 30 minute video
Maryknoll World Productions
P.O. Box 308
Maryknoll, NY 10545-0308
1-800-227-8523

Proclaim Jubilee, a 9-minute video
Bread for the World
1100 Wayne Avenue Ð Suite 1000
Silver Spring, MD 20910

Hard Cash, a 17-minute video
Jubilee 2000/USA
P.O. Box 29550
Washington, DC 20017
(202) 783-3566

Pillaged Lives: Third World Debt and Global Institutions, an excellent educational tool on CD for use on computer
Social Justice Committee of Montreal
1957 deMaisonneuve O. Suite 320
Montreal, 2C H3HIJ9
(519) 933-6797

Education Packet on Debt Relief
The Jubilee 2000/USA Campaign
P.O. Box 29550
Washington, DC 20017
(202) 783-3566

Good Materials for a Focus on Debt Relief
Catholic Campaign on the Debt
Department of Social Development and World Peace
3211 Fourth Street NE
Washington, DC 20017-1194
(202) 541-3381

For more information, you can visit the web site Jubilee 2000 at http://www.j2000usa.org