Debt Cancellation

EDM number 519 in 2004-05, proposed by Edward Davey on 17/01/2005.

That this House congratulates Jubilee Research, Jubilee Debt Campaign and Jubilee Scotland, the UK successor organisations to Jubilee 2000, on their outstanding work in supporting debt and economic justice campaigners worldwide and integrating ecological debts into negotiations around debt cancellation; supports the Chancellor's proposal of 100 per cent. debt cancellation for the world's poorest countries; calls upon the rest of the G8 countries to follow suit to ensure that no country has foreign debts at such a level as to impede its progress towards the Millennium Development Goals, while ensuring that debt reduction does not divert resources from other forms of development assistance; calls on all members of the G8 to delivery the resources necessary to cancel all unpayable debts of the world's poorest countries by fair and transparent means; believes that the G8 should help stop the IMF and World Bank from forcing poor countries to jump through inappropriate hoops, such as the privatisation of basic services to qualify for debt cancellation; and calls upon politicians of all parties to promote the work of these organisations in eradicating the debts of the world's poorest countries.

This motion has been signed by a total of 71 MPs.