Mr. Chairman, a few years ago, at the end of 20th century, the world community came together under the leadership of several of the world's most influential churches and created the Jubilee 2000 movement, a worldwide movement to cancel the debts of the world's poorest countries. The Jubilee 2000 movement included the Catholic Church, the Episcopalian Church, the World Council of Churches, Bread for the World, many other Christian, Jewish and other faith-based organizations. Student groups, HIV/AIDS activists, development specialists, business leaders and labor unions also joined this diverse movement. In 1999, Jubilee 2000 convinced the G-8 group of industrialized countries to develop the Enhanced Heavily Indebted Poor Countries Initiative, known as HIPC, a program to significantly reduce poor country's debt. Unfortunately, the Enhanced HIPC Initiative has failed to provide a lasting solution to poor country debts. At least 18 heavy indebted poor countries are still spending more money on debt payments than they are on health care. We must do more to proclaim Jubilee for the poorest of the poor.
Editor's note · Context
Discussing the Jubilee 2000 movement and its impact on debt relief for poor countries.
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