Speaker Pelosi - The Jubilee Act

The House debates the Jubilee Act for Responsible Lending and Expanded Debt Cancellation of 2008, HR 2634. The bill directs the Bush Administration to begin negotiations for an agreement within the World Bank, International Monetary Fund, and the Paris Club of bilateral creditors to allow up to 24 additional low-income countries to qualify for international debt relief. The bill builds on previous successful efforts in recent years to provide debt relief for the world's poorest countries as an essential component in the overall effort to help alleviate the severe poverty that exists in many parts of the world. Debt relief programs have had a proven record of success. For example, Uganda used its $57.9 million in savings from debt relief in 2006 to invest in energy infrastructure, primary education, malaria control, health care, and water infrastructure. Speaker Nancy Pelosi spoke in favor.

Category:

News & Politics

Tags:

• Democrats
• Congress
• Jubilee
• Act
• Foreign
• Aid
• Africa
• Speaker
• Nancy
• Pelosi

[wotrabbitfish]

good colour for her, even if it sometimes seems she wears too much pastels

[UnconcernedCitizen]

Pelosi is a stuffing her bra with corporate money. (And she must be stuffing it with change because she looks like she is sagging.)

[elidetreyes]

I realize it doesn't make sense, but here's the difference. Those countries are in debt because of the US. Iraq will be next as well. Even though we bombed their country, the US will hire AMerican developers and contractors and guess who will be in debt to us AGAIN?

IMF is pretty shady.

[thatbamma]

debt forgiveness? what about people in THIS country who owe the government just a few grand? THOSE people will get taken to the clink, but nations that owe MILLIONS in debt...well, we'll just let them go because those savings will go to something useful, as opposed to individuals who wouldn't do anything useful with it.