| Creditors Failing the
World’s Poor: Jubilee
Two years after the millennium deadline set by Jubilee 2000,
the campaign founders are accusing creditors of reneging on
their commitment to cancel the debts of the world's poorest
nations.
At the end of the Jubilee campaign, world leaders promised
to write off $110 billion. Yet two years on, less than $36
billion has actually been cancelled.
Ann Pettifor, Director of Jubilee Research and co-founder
of Jubilee 2000, accused Washington bureaucrats of blocking
the debt write-off in an effort to protect the interests of
creditors. She said Jubilee research shows that "given
a chance, debt relief works. In 10 African countries, money
from debt relief has boosted spending on health and education".
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