New Events

International

no events posted in last week

Blog Feeds

The Saker
A bird's eye view of the vineyard

offsite link Putin, crusaders and barbarians Sat Feb 27, 2021 17:17 | amarynth
By Pepe Escobar and first posted at Asia Times Moscow is painfully aware that the US/NATO ?strategy? of containment of Russia is already reaching fever pitch. Again. This past Wednesday,

offsite link Moveable Feast Cafe 2021/02/27 ? Open Thread Sat Feb 27, 2021 04:00 | Herb Swanson
2021/02/27 04:00:07Welcome to the ‘Moveable Feast Cafe’. The ‘Moveable Feast’ is an open thread where readers can post wide ranging observations, articles, rants, off topic and have animate discussions of

offsite link Biden Diversity Strikes Syria (Paul Joseph Watson) Fri Feb 26, 2021 23:35 | The Saker

offsite link Open note to those who voted for the Dems Fri Feb 26, 2021 23:14 | The Saker
It sure did not take Biden very long to, as the US politicians like to say, “send a message” by illegally attacking a sovereign nation and murdering 17 people. If

offsite link Biden Administration Launched Its First Strikes On Iranian-backed Groups In Syria And Iraq Fri Feb 26, 2021 18:04 | amarynth
? South Front After nearly two months of daily attacks against United States convoys and positions in Iraq, on February 25th Washington carried out airstrikes in response. US Secretary of

The Saker >>

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link Mainstream media: Failing to speak truth to power

offsite link David Quinn’s selective tolerance Anthony

offsite link A Woulfe in judges clothing Anthony

offsite link Sarah McInerney and political impartiality Anthony

offsite link Did RTE journalists collude against Sinn Fein? Anthony

Public Inquiry >>

Human Rights in Ireland
A Blog About Human Rights

offsite link Poor Living Conditions for Migrants in Southern Italy Mon Jan 18, 2021 10:14 | Human Rights

offsite link Right to Water Mon Aug 03, 2020 19:13 | Human Rights

offsite link Human Rights Fri Mar 20, 2020 16:33 | Human Rights

offsite link Turkish President Calls On Greece To Comply With Human Rights on Syrian Refugee Issues Wed Mar 04, 2020 17:58 | Human Rights

offsite link US Holds China To Account For Human Rights Violations Sun Oct 13, 2019 19:12 | Human Rights

Human Rights in Ireland >>

Spirit of Contradiction

offsite link The Party and the Ballot Box Sun Jul 14, 2019 22:24 | Gavin Mendel-Gleason

offsite link On The Decline and Fall of The American Empire and Socialism Sat Jan 26, 2019 01:52 | S. Duncan

offsite link What is Dogmatism and Why Does It Matter? Wed Mar 21, 2018 08:10 | Sylvia Smith

offsite link The Case of Comrade Dallas Mon Mar 19, 2018 19:44 | Sylvia Smith

offsite link Review: Do Religions Evolve? Mon Aug 14, 2017 19:54 | Dara McHugh

Spirit of Contradiction >>

World Bank Says Bold Debt Relief Plans Needed to Confront COVID Crisis

category international | economics and finance | press release author Wednesday August 19, 2020 14:53author by Zachary Conti, zach@jubileeusa.org - Jubilee USA Report this post to the editors

World Bank President David Malpass called for debt cancellation for poor countries struggling with the coronavirus, in an interview he gave to The Guardian.

"The coronavirus crisis is both a health and economic crisis and many developing countries can't address the critical needs of their people while paying debts," noted Eric LeCompte the Executive Director of the religious development group, Jubilee USA and a United Nations debt expert. "Many countries are experiencing both dramatic losses in revenue and rising costs to address the impacts of this crisis."

Malpass asserted that new World Bank data would illustrate that 100 million people were pushed into poverty by the crisis. He explained the crisis was worse than the crisis of 2008 and that more bold policies were needed from the G7 and G20. The G20 offered debt payment suspension policies for the 73 poorest countries in April that could save poor countries $12 billion in 2020.

"The only way for many developing countries to get on the otherside of this crisis is to cancel debts," stated LeCompte who monitors World Bank policies. "The private sector needs to participate in debt relief plans and shouldn't expect taxpayers of developed countries to bail them out."

Malpass shared concerns of private sector actors and China's development bank refusing to participate in current debt relief plans. He argued that these groups could get a "free ride" and take the debt relief and aid being offered by the United States and other advanced economies.

Jubilee USA Network is an alliance of more than 75 US organizations and 750 faith communities working with 50 Jubilee global partners. Jubilee USA builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA wins critical global financial reforms and won more than $130 billion in debt relief to benefit the world's poorest people.

www.jubileeusa.org

Related Link: https://www.jubileeusa.org/pr_world_bank_says_bold_debt_relief_plans_needed_to_confront_covid_crisis
© 2001-2021 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy