Response to "Unconditional Debt Relief is Not the Answer for Africa's Development"

Neil Watkins, July 7, 2008

Franklin Cudjoe’s recent editorial denouncing the Jubilee Act for Responsible Lending and Expanded Debt Cancellation (“To Washington Legislators: Unconditional Debt Relief is Not the Answer for Africa's Development,” July 6) seems to pull information directly from talking points of ideologically driven activists circulating misinformation about the bill, rather than from the legislation itself.

HR 2634, The Jubilee Act as passed by the House, includes 11 specific requirements to ensure only democratic nations with accountable policies are eligible for debt cancellation, and a further 7 requirements to ensure countries use the money in the fight against poverty. These criteria include public financial management, budget transparency, free and fair elections, and other requirements typical of US foreign assistance programs. Had Mr. Cudjoe read the legislation, he would have been unable to say that “the Jubilee Act includes no such provisions.”

Further, the Jubilee Act recognizes and works to end the unsustainable ‘lend and forgive cycle’ that has brought on the need for debt relief. The bill requires the Secretary of the Treasury to work for international policies that preserve the gains of debt relief to date and support the development of new responsible financing standards that ensure transparency and accountability to citizens, human rights, and the avoidance of new odious debt.

The Jubilee Act is a responsible measure that builds on a decade of successful debt relief. It would give some of the world’s poorest countries that have been left out of previous debt deals a fair chance. One such country is Lesotho, which pays approximately the same amount in debt service annually as it spends on its entire education budget, while 34% of its children are not enrolled in primary school.

Debt relief is a bi-partisan issue; it is also a pragmatic and tested tool in the fight against global poverty. Recognizing this, 69 Republicans joined most Democrats in voting for the bill in the House. The legislation is supported by more than 60 religious denominations, development agencies, and human rights organizations, including the US Conference of Catholic Bishops, the ONE campaign and evangelical development network Micah Challenge.

Debt relief is an investment in the growth and stability of the African continent as well as low-income countries world-wide. It can make U.S. aid more effective by ensuring aid money does not simply flow back out of countries in the form of debt repayments. We encourage Washington lawmakers to support this legislation, recognizing that debt cancellation is one crucial piece in the wider fight against global poverty.


Neil Watkins
National Coordinator

Danielle Pals
Policy Fellow

Jubilee USA Network
212 East Capitol Street, NE
Washington, DC 20003
(202) 783-0214


 

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