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February 25, 2008

Debt relief initiative

President Bush recently made a historic trip to Africa to review the progress of the Multilateral Debt Relief Initiative (MDRI) and other administration-sponsored development programs in the region. He observed increased investment in health care and education made possible y MDRI debt cancellation.

Expanded debt cancellation is an essential element of any real, long-term development progress in Africa. The Jubilee Act for Responsible Lending and Expanded Debt Cancellation, currently under consideration by both houses of Congress, would expand debt cancellation beyond the 23 countries that have benefited from the MDRI, and would help put an end to the kind of irresponsible lending that caused crippling debt burdens in the past.

In Tanzania, debt relief led to a 50 percent increase in primary school enrollment. In Ghana, funds were freed to rehabilitate the transportation infrastructure and to support education and health initiatives.

Debt cancellation has made an enormous impact already. Expanded debt cancellation could help many more impoverished countries.

I strongly believe that debt cancellation will help to free the nations of the world from crippling poverty and I have supported this through my membership in the Jubilee U.S.A. Network as well as lobbying my representatives and senators.

Teresa Orth
Parkville

Comments

big dreamer

Ok great, forgive the hundreds of billions of dollars other nations owe us. Lets also forgive the hundreds of millions of dollars of student loan debt for AMERICAN students who are so in debt due to the rising cost of college that we can not live a normal life for 10 to 30 years. Home ownership is a dream that will not happen because of the severity of the student loan debt a majority of students have to take to complete their dreams of a college degree. This is a similar situation applied to a person not a country. If the country can not make their payments work it out with them. I do not even get that courtesy as a student loan holder. I pay what I can as I can but will probably never have it paid off. After 30 years it goes away. Do you know how much impact it would make if my loan, and i am sure other students would agree, was forgiven? My life would change dramatically as would my families without that burden.

Stop giving money away to others when AMERICANS here in our "grand old country" are suffering under the oppression of debt, rising prices, and no assistance.

 
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