Debt Relief: The Results Are In
Debt relief has allowed poor nations to pay for schools and health care instead of loan interest. A new bill in the U.S. Congress would offer relief to more countries and make lending more responsible.by Hayley Hathaway
posted Dec 17, 2009
Pressure is building from civil society to build on the successes of debt relief by addressing past odious debt and creating a fairer system for future borrowing.
The bill passed the U.S. House of Representatives in 2008 but did not come up for a vote in the Senate before the congressional session expired.
Debt relief works
Peter Chibize walked twelve miles from his village in southern Zambia to the nearest health clinic, unsure how he would convince the doctor to treat his chest pains, headache, and cough for free. He agonized until a nurse told him that he did not have to pay. "It was like a dream to me," said Chibize."Not to pay anything when you visit a clinic is amazing."