Multilateral Debt
The World Bank and the International Monetary Fund are major creditors to developing countries, demanding implementation of structural adjustment programmes in exchange for minor debt relief offered through their Heavily Indebted Poor Country (HIPC) Debt Initiative.
Section Articles 1-20 of 28
Letter to Inter-American Development Bank President - July 14, 2006
This letter demands the cancellation of IDB debt to Bolivia, Guyana, Honduras, and Nicaragua, all countries who recently benefitted from the Multilateral Debt Relief Initiative, but who are severely burdened by debt because it did not include Inter-American Development Bank debt.
Mind the (Growing) Gap – Debt, Aid, and Trade (July 2006)
This is a short opinion piece written in July 2006 by Fraser Reilly-King , the Coordinator of the Halifax Initiative Coalition, one year on from the Group of Eight's "Historic" meeting in Gleneagles, Scotland.
Letter to Minister Flaherty (March 2006)
This letter draws attention to the extent to which the World Bank, through its International Development Association, has backtracked on the commitments made at the G8 summit in Gleneagles under the Multilateral Debt Relief Initiative, and how it is inconsistent with how the IMF has implemented the same initiative. The letters asks the Canadian Executive Director to ensure when the modalities of the deal are discussed on March 28th, that all countries receive immediate full debt cancellation as of July 1, 2006.
Joint Letter to the PM on Debt - September 12, 2005.
Canadian NGOs Call on Canada to Demonstrate Leadership at Upcoming Meetings to Push International Community to take Action to Eradicate Poverty.
Report - Analysis of G8 Debt Deal (June 2005)
KAIROS and Halifax Initiative Coalition provide short analysis of the details of the G8 Finance Minister's debt deal announced on June 11, 2005.
Send a Letter to the Prime Minister for G8
I support the leadership role Canada has played in moving the G7 to accept the principle of 100% multilateral debt cancellation for the world's poorest countries. However, much more remains to be done. I call on you to take leadership in resolving the two major shortcomings in the proposal when you and the other G8 leaders meet in Scotland this July for your annual Summit.
Join the Call for Debt Cancellation NOW!
Canada's Make Poverty History campaign is calling for the unconditional cancellation of 100% of the debts owed by the poorest countries as well as more and better aid, trade justice and an end to child poverty in Canada.
Government of Canada Response to HI letter (January 2005)
Thank you for your correspondence of January 28, 2005 regarding debt relief, additional financing and other development issues. I apologize for the delay of my reply.
Presentation: Drop the debt!
Prepared Remarks March 1, 2005 McGill Global Aids Coalition
Letter to Minister Goodale (January 2005)
On behalf of the Halifax Initiative Coalition and the Africa Canada Forum, a working group of the Canadian Council for International Cooperation, we call on you to recognize this moment and champion the unconditional cancellation of 100% of the multilateral debts owed by impoverished countries and set out a timetable for the provision of additional Official Development Assistance (ODA) to enable them to meet the Millennium Development Goals.
KAIROS Statement on Global Day of Action Against Debt Domination (December 2004)
A statement by KAIROS calling for multilateral debt relief, greater action on the part of G7 nations and recognition that odious and illegitimate debt should not have to be repaid.
KAIROS Analysis of the October G-7 Finance Ministers’ and IMF & World Bank Meetings
This briefing provides an analysis of the outcome of the G7 Finance Ministers Meeting and the IMF/World Bank Annual Meetings in light of the four demands put forward by KAIROS and the Halifax Initiative.
Action Alert Archives - September 13, 2004
Please note that this coming month is a critical time for the campaign to cancel the debt of poor countries. We are asking you to take action to help make 100% debt cancellation a possibility for the poorest countries, with no conditions attached.
Where the HIPC Initiative is Failing - October 2003
This factsheet evaluates whether the HIPC Initiative has met its own objectives of providing a sustainable exit from debt relief and concludes that it has failed to meet even its own limited goal.
Canada's position on Third World debt - September 2003
This factsheet summarizes the Government of Canada's position on debt cancellation and documents actions to date. For analysis and critique of this position, see our other documents in the Issues-Debt Section.
G8 and debt
The on-going debt crisis of developing countries is integral to the perpetuation of an unjust economic system, one that concentrates wealth and power in the hands of a few. EVERY SINGLE DAY in 1999, $128 million was transferred from the poorest countries to the richest in debt repayments. For every one dollar in aid to developing countries, more than seven dollars comes back to rich countries in the form of debt servicing.
Submission to the International People’s Tribunal on the Debt (February 2002)
The on-going debt crisis of developing countries is integral to the perpetuation of an unjust economic system, one that concentrates wealth and power in the hands of a few.
Going beyond HIPC (June 2003)
Going Beyond the HIPC Initiative: Another Pathway to Achieving Freedom from the Burden of Debt (June 2003).
Mythologies of debt relief
Four "myths" of debt relief were outlined in an article written in The Guardian in November, 1998, by Jack Boorman, Director of the IMF�s Policy Development and Review Department.
Letter to Minister Manley on Southern Africa (July 2002)
Southern Africa is facing its worst food crisis in over a decade, with millions of people facing starvation. The UN World Food Programme has launched an emergency appeal for assistance, and Canada is responding promptly and generously.
