The Jubilee Blog

VIDEO: Debt Detective Travels to Zambia

 By Pat Rumer, Jubilee Debt Detective


This is Pat Rumer, the Jubilee Debt Detective, who is traveling to Zambia this next week to discover how debt cancellation has benefited people there. I will be talking with doctors, nurses, patients, teachers, parents, students as well as our global partner, Jubilee Zambia to learn how debt relief affects peoples' lives. Join me on this journey and post your questions and comments below. I will be doing a weekly blog and video uploads. Stay tuned for more!

Banking On Coal? South African Activists Say No Thanks

By Art Nevins

                                                                             Source: OpEdNews.com         

The World Bank is considering whether to give a $3.75 Billion loan to South African Power Company Eskom to build a new “clean coal” power plant, which would be the fourth largest coal powered power plant in the world. The loan is of highly contentious debate and the focus of intense lobbying by both sides. The South African government and the World Bank seek to present the loan as a pillar of finance for development. South African Minister of Public Enterprises said that if the loan is not given, “We can essentially say goodbye to our country” and the economy.

InterAmerican Development Bank Agrees to Cancel Haiti’s Debt

Today brought more good news in Jubilee's efforts for Haiti debt relief: The InterAmerican Development Bank (IDB) announced that it would cancel the debts Haiti owes to the institution.  A total of $479 million, this is the largest amount Haiti owes by far to a single creditor. 

Just after the quake hit, Jubilee activists around the country took action through calls, letters, and petitions to Congress and the White House – their voices were heard as Treasury Secretary Geithner and Congress both announced the US’ intention to ensure debt cancellation for the devastated country.  With 30% of the vote in the InterAmerican Development Bank, the US has huge influence of the institution’s actions.  Thus, the news from the Cancun IDB meetings is proof that the US and its international partners are fully committed to giving Haiti a clean financial slate as it moves forward in recovery and reconstruction.

For the full story on the IDB's announcement, read the Business Week article "Development bank forgives $479 million Haiti debt."

For more on Jubilee’s work on Haiti, click here.

Hearing the Need for Haitian Justice

By Julia Dowling

Last night, at nearly 8 pm, the House of Representatives took one step closer towards economic justice for Haiti, passing the Haiti Debt Relief and Earthquake Recovery Act of 2010.  This comes only five days after the Senate passed their own Haiti Recovery Act.  In the face of continued devastation, this comes as good news and a basic, but necessary step, in aiding Haiti’s recovery.  These bills direct the US Treasury to ensure Haiti’s remaining debts are cancelled, and new aid comes in the form of grants, not loans.

I was excited and just a little anxious last week as I helped prepare for Jubilee’s participation in the Financial Services Subcommittee hearing on Debt Relief for Haiti.  Why butterflies?  Melinda St. Louis, Deputy Director for Jubilee, testified as a witness in front of the subcommittee – voicing the calls of Jubilee activists across the country for debt cancellation for Haiti.

Do IMF Policies Devastate Health Spending? A Panel Discussion

By Art Nevins                                                                       Source: achanceforeverychild.org

The Jubilee USA Team recently attended a panel discussing whether IMF policies have restricted spending on the HIV/AIDS epidemic in developing countries. The core of the discussion was based upon Jubilee ally Rick Rowden’s new and provocative book, The Deadly Ideas of Neoliberalism. The author was joined in the panel by members of diverse opinion on the issue, including representatives from the IMF and World Bank as well as Health Gap activist Professor Brook Baker.