HIV/AIDS organizations estimate between $7.5 and $15 billion is needed to fight this pandemic. Instead, every year, Africa pays $13.5 billion in debt service.
230 million children lack access to clean water. While billions of dollars in debt payments tax the poorest countries, just $65 million could save these children’s lives.
After debt relief allowed the elimination of school fees in Tanzania, 1.5 million children returned to school almost overnight.
Poor countries need foreign currency to pay back their debts and in turn are forced to milk the earth's resources and cut back on environmental conservation.
A few links to help you learn more about this critical issue:
Jubilee USA
Jubilee USA Network brings together people to turn a disparate reality around by active solidarity with partners worldwide, targeted and timely advocacy strategies and educational outreach.
DATA – debt, AIDS, trade, Africa
DATA aims to raise awareness about, and spark response to the crises swamping Africa: unpayable Debts, uncontrolled spread of AIDS, and unfair Trade rules which keep Africans poor.
CADTM – The Committee for the Cancellation of the Third World Debt (Comité pour l’annulation de la dette du Tiers Monde)
CADTM is an international network of individuals and local committees from across Europe and Latin America, Africa and Asia.
The network acts in close liaison with other movements and organisations fighting for the same ideals. Its main preoccupation, besides the debt issue, is the planning of activities and radical alternatives for the creation of a world respectful of people’s fundamental rights, needs and liberties.
http://www.cadtm.org/rubrique.php3?id_rubrique=2/
An analysis of debt forgiveness from the University of Iowa Center for International Finance & Development
http://www.uiowa.edu/ifdebook/briefings/docs/forgiveness.shtml