The burden of debt repayment thwarts poverty alleviation efforts throughout the developing world. Much of this debt is from loans taken out decades ago by corrupt rulers, often supported by Western nations to further their own interests. In 1999, $128 million per day in debt repayments was transferred from the poorest nations to the richest.
In the past decade, with the help of relief organizations like Jubilee USA and Oxfam, a number of impoverished countries have received partial or full cancellation of their debt to foreign governments and international financial institutions. According a study by the World Bank/IMF, in countries receiving debt relief, poverty reduction initiatives doubled between 1999 and 2004.
Browse this page (funded in part by The Isvara Foundation) to learn more about the burdens of excessive and crippling debt on developing nations, and to find out what you can do.
Learn more from these organizations working to alleviate third world debt:
Take Action on Climate Debt with the World Development Movement!
 Sign the Petition! ONE and AVAAZ are asking you to Help Haiti Drop the Debt
Join the Jubilee Network! Get involved with a group in your area to help break the chains of third world debt. |
Global Issues on Structural Adjustment Policies (SAPs)
The structural adjustment policies of the World Bank and the IMF have been blamed for increasing debt and poverty in the developing world. This article explains what they are and how they work.
Bretton Woods Project:
Critical voices on the World Bank/IMF
The Bretton Woods Project works to scrutinise and influence the World Bank and IMF. Browse their site for in-depth analysis, reports, and volunteer opportunities.
Take a stand against European Investment Bank’s funding for fossil fuels. Sign the petition now and make your voice heard!
Learn more about harmful extractive industries here.
Learn more about the European Investment Bank (EIB) here.
The Pinky Show: “Banked into Submission” In Part 3 of this globalization comic series, Bunny explains to Mimi how to establish and maintain control over others via this (kind of) new thing called globalization. Is globalization the new colonialism? Will Pinky ever get that crayon off her head?
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Media That Matters: World Bank policies and debt explained using the story of Senegal and ground nuts. |
IFIwatch.tv: |
