Debt Cancellation

The August 2010 message from Partnership for Global Justice:

It has been 6 months since Haiti was hit by a devastating earthquake. With your activism, Haiti was able to win full debt cancellation as a first step toward its long road to recovery. On July 21, 2010, the IMF answered our call and fulfilled its pledge to cancel Haiti's remaining debt to the institution. We have heard that debt cancellation was great news, but unfortunately it came years too late. For decades, debt payments took precious money away from investments in the most basic human needs, making the country much more vulnerable to disaster.

Because the issue of debt cancellation will emerge during the September Summit on the Millennium Development Goals, we need to urge the leaders of our countries to incorporate expanded debt cancellation and responsible finance for poor countries into the plan to achieve the Millennium Development Goals (MDGs), which will be presented to the United Nations in September.

As we remember Haiti, we must continue to push our leaders to address the deeper issues that cause so much suffering in Haiti and around the world.

Action:

Write to the leader of your country and encourage him/her to expand debt cancellation in their program for the upcoming MillenniumDevelopment Summit held at the United Nations in September.

President Barack Obama, The White House, 1600 Pennsylvania Ave, NW, Washington, DC 20500. Email: www.whitehouse.gov go to contact us. Phone: 202-456-1111, FAX: 202-456-2461.

Prime Minister Stephen Harper, Office of the Prime Minister, 80 Wellington Street, Ottawa, KIAOA2, CANADA. Email: http://pm.gc.ca go to contact us. FAX: 613-941-6900.

SAMPLE LETTER:

Dear ______________,

I am deeply committed to ending global poverty and achieving the Millennium Development Goals (MDGs), I urge you to take leadership as you plan for the upcoming MDG Review Summit at the United Nations in September to include expanded debt cancellation for impoverished countries and responsible sovereign finance in your plan to achieve the MDGs.

I urge you to support the following policies:

1. Expand debt cancellation for impoverished countries – There are 20 countries, like Kenya and Lesotho, that are struggling to meet the MDGs and could greatly benefit from debt cancellation but have been left out of previous debt cancellation deals.

2. Actively engage in the creation of frameworks for responsible lending and borrowing such as fair and transparent sovereign debt arbitration and curbing predatory vulture fund behavior.

3. Ensure continued World Bank and IMF reform to increase institutional transparency and accountability, and end harmful conditions attached to loans and debt relief.

With the economic crisis and the Millennium Development Goals only five years away, it is a critical moment for our country to play a leading role in the fight against poverty.

Sincerely,