Beatitudes Blog

Big News and a New Campaign!

Submitted by Ian Hartner on August 8, 2008 - 4:13pm.

Picture New Leadership on Global Poverty and Debt.

My previous blog entry was concerning a campaign at Jubilee USA entitled “Stop the Vulture Culture!” We are excited to report that Representative Maxine Waters (D-CA) will introduce a bill into the House of Representatives outlining regulations and penalties for companies who engage in the profiteering of defaulted sovereign debt. It’s time to start calling your Members of Congress to ask them to co-sponsor this Vulture Funds legislation!

Another campaign at Jubilee is “Picture New Leadership on Global Poverty and Debt.” We’re calling on the next president of the United States to take an affirmative stance on debt cancellation and to provide more and better aid to highly indebted countries. We are also asking the next President to appoint a Secretary of the Treasury who will share these goals.

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Summer Fellowship: Vulture Culture!

Submitted by Ian Hartner on June 25, 2008 - 9:36pm.

So, part 2 of My beatitudes blog is going to outline one of our new fall campaigns at Jubilee USA. It's a little sad that I'll be working on this for the next month and won't be here in the fall to see it's effectiveness but maybe someone will keep me in the loop! "Vulture Culture" Is a campaign to stop vulture funds from preying on small impoverished countries.

Let's start at the beginning, why are these countries in debt to begin with and who do they owe the money to? Many highly impoverished poor countries ascertain debt through dictators and governments who greedily mismanaged the funds collected by the state from the people whom they serve. When a country runs out of money they have the option to borrow money from sources such as the World Bank or the International Monetary Fund. Later, after these governments have been removed from power, the country is left with large amounts of debt that can total hundreds of billions of dollars. The country can then apply for debt cancellation from their creditor, a practice that Jubilee supports in full.

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Summer Fellowship: How did I end up back in OHIO?

Submitted by Ian Hartner on June 23, 2008 - 6:06pm.

Greetings from Columbus, OH!

I’m currently sitting in the Port Columbus Airport waiting for a connecting flight through NY to finally arrive back in my summer hometown of Washington DC.

For those of you who may not know what Jubilee USA does, here’s a brief rundown. Jubilee is an organization committed, like many other organizations, to ending global poverty. Jubilee insists that debt cancellation for developing nations is one of the most important things we can do to fight poverty and achieve the Millennium Development Goals.

Why debt relief? It turns out that many highly impoverished poor countries have borrowed money from the World Bank, International Monetary Fund, and other lending sources and have been sacrificing the well being of their citizens in order to pay down their debts, some of which were acquired under brutal dictatorships. Lending conditionality, vulture funds, and high interest rates are the three main contributors to global poverty where debt is concerned, but I’ll spare you a lecture on odious and illegitimate debt.

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