What these 7 individuals do on February 4th depends on what we do between now and then.

Debt is in the news and on the global agenda. Consider that in the last week alone:

British Chancellor Gordon Brown toured Africa promising that the UK would pay its share of poor countries’ debt service to the World Bank, and African Finance Ministers called on the G7 to support 100% debt cancellation on February 4th;

Nelson Mandela is planning to be in London on February 4 to let the leaders there know how important debt cancellation is for Africa;

A new report by Jeffrey Sachs and United Nations highlighted debt cancellation as a critical tool if the world is to have any hope of meeting the Millennium Development Goals.

The time for action is now. Our government is supportive of 100% debt cancellation, but we have heard lately that it is not a high priority for them. We must tell them to negotiate in London – that failure to come to an agreement on 100% cancellation is NOT acceptable. Treasury Secretary John Snow should return from London on February 5 with a commitment from the G7 for 100% multilateral debt cancellation for all impoverished nations, without harmful conditions.

There are three critical ways you, your family, your friends, and your community can help in the next two weeks:

(1) Sign and spread our e-petition by clicking and following the instructions at: www.jubileeusa.org

(2) Call your Member of Congress and ask them to sign a letter in support of 100% debt cancellation;

(3) Write and op-ed or letter to the editor on debt. Read on for details and instructions for each of these actions.

BACKGROUND INFORMATION:

New Jubilee USA Report Finds World Bank has over $17.5 billion in Resources for Debt Cancellation

WASHINGTON, January 13, 2005 -- Jubilee USA Network and the American Friends Service Committee’s Life Over Debt Campaign today released a report which finds the World Bank has significant funds available to contribute towards full and permanent debt cancellation for impoverished nations.

The report released today was written by Sony Kapoor, a senior adviser to Jubilee USA Network and Jubilee Research in London. It finds that the World Bank (IBRD) can safely mobilize $10 billion of reserves to fund cancellation, and could commit an additional $7.5 billion in future profit up to 2020.

“We have highlighted a financially sound mechanism for part financing IDA debt cancellation through IBRD resources without any tangible impact on countries that borrow from the IBRD,” said Sony Kapoor, the author of the report.

Kapoor, who also wrote the influential paper that showed how IMF gold sales could generate $35 billion for debt cancellation, said “It is unacceptable that the IMF and World Bank are sitting on top of more than $50 billion of spare money when millions of people are dying everyday for a want of basic needs. Every day of delay in providing debt relief has unacceptable human costs.”

See http://www.jubileeusa.org/sonyreport.pdf for a downloadable copy of the report.

Upcoming Events:

Jubilee Sunday, January 30, 2005

As we commit the next months and years to movement building and continued action to achieve Jubilee Justice, now is a time for reflection and action, a time to reinvigorate supporters and activists in this mission. Jubilee Sunday is a perfect opportunity to spiritually recharge Jubilee supporters as well as share the call of Jubilee with others. On Jubilee Sunday, congregations can learn more about the biblical concept of Jubilee and the international debt crisis, worship in solidarity with those continuing in the debt campaign worldwide, and take action with Jubilee USA Network.

On Sunday, January 30, 2005, we invite you to plan and participate in Jubilee Sunday at your congregation: learning, praying and acting for justice and freedom from the bonds of debt. Details on this year’s Jubilee Sunday, Worship Reources and Sermon Helps can be found on the Jubilee website clicking and scrolling down to Jubilee Sunday at http://www.jubileeusa.org

Ecumenical Advocacy Days, Washington, DC, March 11-14, 2005

Register today at www.advocacydays.org

Make All Things New is the theme of the third annual Ecumenical Advocacy Days gathering in Washington, D.C. addressing urgent global issues. It takes place in the context of a new presidential term, a new Congress and a new

opportunity for people of faith to learn together and raise their voices in advocacy for a more just and peaceful world.

Ecumenical Advocacy Days will highlight the urgency of pursuing wise and peaceful solutions to conflicts and the need for aid, debt and trade policies that benefit our impoverished brothers and sisters throughout the world.

Participants will examine U.S. policy regarding the Middle East, Africa, Asia, Latin America, global economic justice, global security, eco-justice and U.S. domestic issues. There will be challenging speakers, issue briefings and training in advocacy. Comprehensive briefings will precede visits with members of Congress or their key policy staff assistants.

Neil Watkins
National Coordinator
Jubilee USA Network
(202) 783-0129
www.jubileeusa.org

Rosemary Huddleston, OP
World Mission Ministries