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.

Letter to Minister Goodale (December 2005)

The IMF is proposing to delay debt cancellation for 6 of the 18 countries that have already reached HIPC Completion Point. The IMF Board will decide to accept or reject the staff recommendation to further require 6 countries to undertake structural reforms next Wednesday.

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.

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.

Impoverishing a Continent: The World Bank and the IMF in Africa (July 2004)

The World Bank and the International Monetary Fund (IMF) are the two most powerful institutions in global trade and finance. Since 1980, the United States government which dominates both bodies has used them to economically subjugate the developing world. The World Bank and the IMF have forced Third World countries to open their economies to Western penetration and increase exports of primary goods to wealthy nations. These steps amongst others have multiplied profits for Western multinational corporations while subjecting Third World countries to horrendous levels of poverty, unemployment, malnutrition, illiteracy and economic decline. The region worst affected has been Africa.

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.

Going beyond HIPC (June 2003)

Going Beyond the HIPC Initiative: Another Pathway to Achieving Freedom from the Burden of Debt (June 2003).

Letter to Canadian IMF Director on Proposed New Debt (December 2002)

Letter to Canadian IMF Director on Proposed New Debt Restructuring Mechanism: On December 18, the Board will discuss the IMF’s most recent version of an insolvency procedure for states, labelled the “Sovereign Debt Restructuring Mechanism” (SDRM).

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.

Fact Sheet: Debt delays (December 2001)

After the IMF delayed the HIPC implementation for Nicaragua, here is the summary of other country cases, their social context, and delays in debt relief:

Letter to Ecuadorian President Noboa (Feburary 2001)

We write to you as representatives of civil-society organizations concerned about the impact of IMF- and World Bank-imposed structural adjustment programs around the world. We are alarmed by reports of violent suppression by your government of the legitimate public protests against the most recently implemented adjustment program in Ecuador.

Excerpts from a letter sent to the IMF & WB (July 1999)

Excerpts from a letter sent to: Tom Bernes, Executive Director for Canada, International Monetary Fund and Terrie O'Leary, Executive Director for Canada, World Bank

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