Sustainable debt target: Deal comprehensively with the debt problems of developing countries through national and international measures in order to make debt sustainable in the long term
This photo shows just a fraction of the 70,000 people who formed a human chain in Birmingham in May 1998, to demand that the G8 drop the debt. Jubilee Debt Campaign is inviting everyone who believes in economic justice for the world's poor back to Birmingham on Sunday 18 May 2008 to mark this historic event. Photo Jubilee Debt Campaign
Imagine if our world’s economic system was shaped by the principles of justice and equality. Imagine if politicians and financial bodies who have made mistakes acknowledged them before the world and sought to put them right. Imagine if the powerful showed generosity rather than greed. To achieve MDG 8 we need to call our leaders to take up this challenge.
Part of Goal 8 is to “deal comprehensively with the debt problems of developing countries…in order to make debt sustainable in the long term.” At the heart of this target is the need for individuals, governments and financial institutions who have lent money irresponsibly to face up to their mistakes, and do what’s needed to cut the chains of appalling injustice that have been created.
Statistics show that 107 developing countries are currently unable to move out of poverty as a direct result of having to repay unjust debts. In effect, these countries are being forced to make the decision between meeting the basic needs of their people, and satisfying impossible financial demands; a choice that no government should have to make. What’s more, less than a quarter of these countries are being considered for debt relief.
The Jubilee Debt Campaign has seen great successes, and in 1998 inspired 70,000 people to speak out for debt in Birmingham which led to the first ever G8 discussions about debt relief! But it is clear that there is still a long way to go.
You can help millions move out of poverty by taking action today with the Jubilee Debt Campaign, calling our Government to drop all unjust debts. Why not go the extra mile and join thousands of others on May 18th, marking the tenth anniversary of the Birmingham event!
Heavenly Father,
Thank you for your abundant generosity and incredible compassion towards us, giving us fullness of life in Jesus Christ. Thank you that we are made to reflect your generosity and compassion to the world. Thank you for making it plain to see your desire for justice and concern for the poor in your word.
Help us, God, to be a people of generosity and compassion, a people who call for protection of the impoverished and marginalised through debt relief. Help us to challenge rich countries’ unjust and irresponsible lending, the consequences of which hurt the poor the most.
Father, please give your wisdom and compassion to the men and women working in financial institutions and politicians who deal with countries’ loans and debt repayments; may they understand Your economics of justice and generosity.
In Jesus’ name,
Amen.
Take action to help release all those burdened by unfair debts
Act now! Write to Douglas Alexander asking him to ensure that all past lending is investigated with integrity, and that all unjust and illegitimate debt is then cancelled.
Inspire your friends to take action to cancel debts by forwarding them this video
Help your friends to make a difference – invite them to join you in Taking Five
