Testimony of Nancy Birdsall, president of Center For Global Development (CGD), is explained on the CGD Blog.
Debt Relief No Panacea, Birdsall Tells Senate Foreign Relations Committee
CGD President Nancy Birdsall praised the intent of new legislation (S. 2166) to expand debt relief to additional poor countries, but cautioned against the bill in its current form last week at a Senate Foreign Relations Committee hearing. She urged the U.S. to first pay nearly $900 million in arrears to the multilateral development banks and consider other mechanisms to help poor countries protect themselves from external shocks, including natural disasters and sudden increases in food, oil or other commodity prices. READ FULL ARTICLE HERE
Neil Watkins, Jubilee USA Network National Coordinator, responds to the CGD post in the comments section.
I couldn’t agree more than debt relief is “no panacea” to global poverty. In fact, none of the witnesses at the April 24th hearing at which Nancy Birdsall testified, nor any staff or leaders of Jubilee USA Network, the debt cancellation advocacy organization I lead, would claim such a thing.
The more relevant question is: would additional debt cancellation be helpful and complementary to other strategies in the fight against global poverty? To this, the answer seems to be a resounding “yes.” READ FULL COMMENT HERE. Scroll down to the bottom of the first blog to read Neil's response.