Brown writes off developing countries’ debts
“Golden opportunity to pressure G7 leaders
In September, the Chancellor took the bold step of writing off the UK’s share of debts owed by 32 of the world’s poorest countries. Now it’s time for the rest of the G7 nations. Help us persuade them to follow the UK’s lead before they meet in February. Cancelling the debt could put 100 million children into school – so click below and tell them they must try harder!”

Take action!

Africa’s Debt Crisis
“Africa’s external debt burden currently stands at more than $300 billion, in a continent where most people subsist on less than $1 per day. Africa’s debt crisis is the single biggest obstacle to the continent’s development and to the fight against HIV/AIDS. It represents a crippling load that undermines economic and social progress. It is estimated that African countries pay $1.51 in debt service for every $1 they receive in aid.” more…

Illegitimate Debt
“Most of Africa’s foreign debt is illegitimate in nature because of the circumstances under which it was incurred, as well as the harmful effects it now has on the continent’s development.” More…

U.S. Policy on Africa’s Debt
“Over the past eight years, the HIPC initiative has fundamentally failed to resolve Africa’s debt crisis. It has not reduced the debts of African countries to sustainable levels. In fact, it serves the interests of creditors by continuing to extract the maximum possible in debt repayments from the world’s poorest countries.” More…