To: Latin America and Economic Justice Advocates
From: Theo Sitther, MCC Washington Office
Date: June 6, 2008

Re: Sec. Paulson Attending the G8 Summit

Issue

The finance ministers of world’s richest eight nations (the G8) will meet in Japan next week on June 13 and 14 ahead of the G8 summit scheduled for July. U.S. Treasury Secretary Henry Paulson Jr. will attend this meeting. Meanwhile the world’s poorest countries, including Haiti, are feeling the brunt of the global food crisis, which is threatening to cripple their economies and plunge millions more into poverty. Debt cancellation is one way to help alleviate the suffering.

Background

The lack of affordable food caused riots in Port au Prince, Haiti's capital, where United Nations peacekeepers used rubber bullets and tear gas against protesters attempting to storm the presidential palace. Days later the Prime Minister was sacked and has yet to be replaced.

 

While some Haitians are reportedly eating dirt to quell their hunger, their government is forced to pay almost $1 million each week in debt service to international financial institutions allegedly established to fight poverty.

 

Haiti's current debt stands at $1.3 billion, 40% of which was run up by the Duvalier dictators who between 1957 and 1986 stole part of these loans for themselves, and used the rest to repress the population.

 

Haiti has now qualified for debt relief through the Heavily Indebted Poor Country (HIPC) initiative but it still has to meet a series of conditions, including the sorts of economic policy reforms that have been harmful in the past, before it can complete the HIPC process and access urgently needed debt cancellation. But Haiti should not be forced to continue repaying its debts in the midst of this emergency.

 

Learn more: Jubilee USA – Statement on the Food Crisis

Action

Please sign the petition to Secretary Paulson ahead of the G8 meeting to urge immediate debt cancellation for Haiti - and a moratorium on its debts in the meantime. The Jubilee USA Network, of which MCC is a member, will deliver the petition to the Treasury Department before Paulson departs on June 11.

Sign the petition

We encourage you to forward this alert to friends and family.

* Parts of this alert were adapted from an Action Alert by Jubilee USA.