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Jubilee-2000 to launch anti-global debts campaign

RECORDER REPORT

MULTAN: An international campaign against debt burden over heavily indebted poor countries (HIPC), 'Jubilee-2000,' has shaped a new mobilisation strategy and asked its global components to launch a drive against monopolisation to rid the whole globe of debt and all forms of domination, together with the restoration of land and dignified livelihood to all the oppressed on the eve of a new millennium starting next year.

The 'Jubilee-2000,' colonised peoples, the women and the victims of aggression should freely survive in the new millennium to rid the vicious cycle of inequality and impunity that underpins debt bondage and dependence.

Briefing about the new strategy, the 'Justice and Peace Commission's' executive secretary, Aftab Mughal, told newsmen: "We will challenge the current debt policies and raise the issue of government and state responsibilities. The Jubilee will counter the new wave of G-7, WB and IMF: complete rejection of dialogue and their arguments linking 'relief' and eve 'aid' to the pursuit of 'sound economic policies' and good governance."

Mughal said that they would focus the campaign that can relate to the integrity of struggle and consciousness Ñ as people do not neatly divide their lives according to the campaign issues.

He said that the deposed PML(N) government neither made long-term economic policies. In order to give employment to the poverty-stricken population of the country, nor generated income and export-oriented commodities, and borrowed $71 billion for running the country. The foreign aid was transformed into an instrument of economic and political aggression for the enslavement of the people.

Highlighting the strategic framework in Pakistan, Mughal 'said Jubilee proposes to work towards the goals of popular and governmental collective representation, repudiation of the debt, and formation of popular government alliances.

The JP commission will organise a chain of seminars to build awareness drive in the country, focusing concentration in major cities in the country. Mughal said Jubilee was about restoring life and community, a periodic call for the radical re-distribution of wealth and power, the liberation of those who were opposed to or were held captive, and the renewal of the earth and all its inhabitants.

The JP commission has also established an all-Pakistan 'Rabita committee' (APRCW) to accelerate the campaign. In fact, he added, Jubilee was working around the globe to build this movement to break the cycle of debt domination. The motives of the campaign are: the nullification of structural adjustment loans tied to the IMF and other 'rescue packages' of debt relief or other loans and agreements that prescribe banking and finance liberalisation and the sale of state assets to private monopolies; the abrogation of all agreements that provide for public assumption of private sector debt and other onerous terms: co-responsibility among creditor and borrowers for bad debts and corrupt lending; that the IMF be open and transparent in its dealings; the cancellation of the debts of impoverished countries, without conditions, beginning with odious and illegitimate debts, the promotion of self-reliant and sustainable economics ensuring first domestic needs as opposed to export-oriented and import-dependent economy; to build South unity and consequent collective political will and power around debt, in a first stage, including the reactivation of debt cartel or debt forum where peoples and in time, governments of basis of legitimacy; research and popular mobilisation in negotiations; in the absence of meaningful structural change, to strengthen growing calls into a global campaign from the South to stop payment on all debt.

The JP commission's executive secretary provided a list of debtor countries of the world and said that Honduras and Nicaragua were defaulters of one million dollars each to World Bank. Africa spends four times as much on debt repayments as USA does on healthcare. Every African Ñ man, woman and child Ñ owes the developed world $357.

Bolivia is one of the poorest countries in the world in Latin America and has one of the highest child mortality rate on the continent. The country must spend half of all its (legal) exports income on paying its debt. Forty percent of Bolivia's work force depends on the drugs trade for living.

Tanzania spends 40 percent of its government revenue on paying interest on debt.

Rawanda spends the equivalent of both its health and education budget combined.

Every person in the global South now owes about $300 to foreign creditors, more than an entire year's income for many of our world's people.

The three riches people in the world now have wealth that equals the GDP of 48 countries combined.

There are 225 billionaires in the world today who have a combined wealth of more than a trillion dollars Ñ the income of half of the poorest of the world's population (about 2.5 billion people).

The borrowing countries paid back $227 billion to $302 billion more than they borrowed. Yet their debt burden continues to grow.

In 1996, Nicaragua and a GNP per person of $372 and a debt per person of $1,318. This amounts to a debt-to-GNP ratio of 354 percent. The US air force wants to build 339 F22 aircraft, each of which to cost over $150 billion in 1997, the rich countries lent $8 billion to the poorest countries, while these countries prepaid $8.2 billion, that is dollar 200 million more.