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Money: 3rd World Countries push to cancel World Bank debt
Posted by kallahar on Feb.14.02 at 01:00 pm PST.

kallahar writes LA IndyMedia ran a news story on Feb.08.02 with the following text:

"Earlier this week at the World Social Forum in Porto Alegre, Brazil, Jubilee South held an International Peopleís Tribunal on the Debt, where the judges found that the $1.8 trillion in debt is illegitimate and should be unconditionally cancelled. They also found the World Bank, International Monetary Fund and other lenders guilty of genocide. Jubilee South calls on developing countries to repudiate this illegitimate debt, and simply not repay it. In fact, they argue it is the global North that owes the South an enormous debt for centuries of economic, social and environmental exploitation.

"The UNís 1997 Human Development Report estimates that if the debts of the twenty poorest countries had been cancelled in 1997, the money released for basic healthcare could have saved the lives of about 21 million children by the year 2000, the equivalent of 19,000 children a day."

I think this is great, the World Bank and IMF have been exploiting countries for years under the guise of helping them out.

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Aug.20.01 by kallahar

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