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KAIROS Statement on Global Day of Action Against Debt Domination
Dec. 8, 2004
Developing countries’ debts reached US$2.4 trillion at the end of 2003, almost four and a half times as much as what they owed in 1980 on the eve of the international debt crisis. Since then developing countries have paid about nine and a half dollars in debt service for every dollar owed in 1980. New loans have been used primarily to roll over old debts, rather than for meaningful investments in human or economic development.
As KAIROS observes the second annual day of action against unjust and illegitimate debts, we renew our call for the elimination of debts that have already been paid many times over. We also demand the release of impoverished countries from disastrous Structural Adjustment Programs (SAPs) imposed by their creditors.
A Focus on Poverty, Economic Reform and Climate Change
In 2010 Canada will play host to the world. The Vancouver Olympics and the G8 and G20 Summits in Muskoka and Toronto will draw the attention of millions to Canada, its geography, its values, policies and practices. If 2008 was the year of China, then 2010 can be the year of Canada. Around the globe, Canadians proudly sport the Canadian flag in traveling as a symbol of Canadian democracy, openness and concern for human rights. Yet our great international achievements of the past—Canadian contributions to the establishment of international peacekeeping, the Universal Declaration of Human Rights, the Ottawa Treaty to Ban Landmines and the International Criminal Court—are today clouded by concerns about Canada’s current role in climate change negotiations, Afghanistan, reform of the global economy and addressing global poverty.
