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Breaking News from America's Progressive Community... 1999 Releases March
The press releases posted here have been provided to NewsCenter by the one of the many progressive organizations we have selected to participate. If you would like more information about this press release, you should contact the organization directly. |
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| MARCH
12, 1999 4:52 PM FOR IMMEDIATE RELEASE CONTACT: Bread for the World Margaret Lipton x 209 Michael Rubinstein x 208 or Andrea Jeyaveeran x 210 at (301) 608-2400 |
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Debt Relief For The World's Poorest Countries; Reps. Leach And LaFalce Unite In Calling For End To Unpayable Debt |
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| WASHINGTON
- March 12 - Seeking to break the cycle of unpayable debt that burdens the world's poorest
countries, Reps. James A. Leach (R-IA) and John LaFalce (D-NY) introduced H.R.
1095, the Debt Relief for Poverty Reduction Act, late yesterday. They were
joined in a bipartisan show of support by their House colleagues Spencer Bachus
(R-AL), Maxine Waters (D-CA), Doug Bereuter (R-NE), Barney Frank (D-MA), Frank
Wolf (R-VA) and Tony Hall (D-OH).
"This legislation will enable the poorest countries in the world to better provide for the needs of the most vulnerable people in their societies -- the young, the elderly and the sick," said Leach, chairman of the House Banking and Financial Services Committee. In Africa, governments are sending four times more to international creditors than they spend on education, according to the United Nations Development Program. Children die from preventable malnutrition and disease because their governments are forced to cut funding for health clinics just to pay interest on the debt. "Throughout the developing world, more than one billion people are struggling under a burden of unpayable debt," said David Beckmann, president of Bread for the World, a nationwide anti-hunger citizens' lobby that is supporting the legislation. H.R. 1095 would cancel most of the debt owed to the U.S. government and reduce the debt owed to the World Bank, International Monetary Fund and other international financial institutions. The measure requires debt relief to be targeted to reduce poverty and provide basic social services. "The legislation rewards countries which have done the most to alleviate poverty, and provides immediate financial relief to those which have suffered major natural disasters," Leach said. "At the same time, participating countries are required to establish reforms to make their political and economic process more open and transparent to all while promoting health, education and the environment." The bill is part of the Jubilee 2000 campaign -- an international movement of churches and other organizations working to achieve debt cancellation for the world's poorest countries and to promote development that benefits poor people. Pope John Paul II and Archbishop Desmond Tutu of South Africa are two of the campaign's most prominent and outspoken supporters. The 40 nations classified by the World Bank as "highly indebted poor countries" currently owe $6.8 billion to the United States. ### Bread for the World is a 44,000 member Christian citizens' movement against hunger. Founded in 1974, Bread for the World's members lobby Congress and the administration to bring about public policy changes that address the root causes of hunger and poverty in the United States and overseas. Bread for the World is a non-partisan organization sponsored by 45 denominations and many theological perspectives. |
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