Brown government urged to tackle roots of debt crisis
29 June 2007
Jubilee Debt Campaign has called on Gordon Brown and his new ministerial team to be bold in tackling the international debt crisis - by supporting efforts to make irresponsible lending, and the unjust debts that result, a thing of the past.
|GB: More to do on debt|
"Gordon Brown worked hard to put debt relief on the international agenda as Chancellor," said Trisha Rogers, Jubilee Debt Campaign's Director. "We are now urging him to be equally determined as Prime Minister in putting responsible lending at the heart of development finance – both in considering the legitimacy of existing debts
, and in relation to lending in the future."
"The last Labour government listened to campaigners and acted to make debt relief a reality for some," added Stephen Rand, Co-Chair of Jubilee Debt Campaign. "This new government has the opportunity to extend cancellation to all unjust and unpayable debts – and put measures in place to ensure history doesn't repeat itself."
Campaigners urged the UK government to follow Norway's lead
in championing cancellation of unjust debts when the original loans were not made responsibly.
Jubilee Debt Campaign has written to Douglas Alexander, the new Secretary of State for International Development, to welcome him to his new role and to draw to his attention the urgent work that needs to be done to help poor countries burdened by unjust and unpayable debts.
The letter notes that under the Labour government there has been substantial progress, but continues: "The present process does not address the injustice of many debts, considering creditors' own role in creating the problem through their irresponsible lending. Many of the debts arose through loans knowingly made to oppressive and corrupt regimes, on exorbitant terms or for projects that benefited Western contractors rather than the people of the borrowing country. We hope the UK will soon follow Norway's example and cancel some of its debts on the grounds that they were given irresponsibly."
You can read the full submission to the Secretary of State using the links on the right.
>> TAKE ACTION: Lift the Lid on Unjust Debts