Network Responds to Draft Communique, Urges Bold Action at Summit This Weekend

A new report
released earlier this week by Jubilee USA Network finds that G20 leaders
have made shockingly little progress on development commitments to the
world's poorest.

"The G20
pats itself on the back for increasing money given to the international
financial institutions, yet even one year later, the G20 has delivered
less than half of the resources they committed to low-income countries,
and nearly all of this money comes as loans, not grants. Instead of
bearing 'good results,' as the draft communique claims, the G20 is
promoting a new debt crisis in the Global South," says Jubilee USA
Network's Executive Director Eric LeCompte.

The report, "Making the Grade? The G20's Commitment to
the World's Poorest" evaluates the progress on commitments made by the
G20 last April and makes recommendations for the June 26 - 27 summit.

"While the G20 asserts that it is 'determined to be
accountable for [its] commitments,' these words ring hollow after the
past year of falling far short. The G20 must not only make good on its
promises to the poorest, but also to heed the call of global civil
society for real solutions, like debt cancellation without harmful
conditions and fair and just financing to combat the urgent threat of
climate change," says Melinda St. Louis, Jubilee USA's Deputy Director.

The report also gives the G20 poor marks on inclusion
of affected populations. Says Lidy Nacpil, the coordinator of the
Jubilee South Asia/Pacific Movement on Debt and Development, based in
the Philippines: "We believe that any process to address the global
economic and financial crisis should include the voices of all affected
peoples and nations. The G20 is not that process. However, as long as
the biggest economies of the world are meeting, they should use their
time to address the flaws of the global economic and financial system
and take bold steps to transform the system."

The report can be found at www.jubileeusa.org.