The IMF has approved immediate debt cancellation for 19 countries.
This article takes a closer look at the details. (Eurodad, January 2006)
The World Bank Executive Board has approved the final details of how it plans to implement the G8 multilateral debt deal. Read the details in this article. (Eurodad, April 2006)
IDB debt cancellation: Where are we now? (Eurodad, April 2006)
The JUBILEE Act: Representatives Maxine Waters (D-CA), Jim Leach (R-IA), Barney Frank (D-MA), Max Bachus (R-AL), Barbara Lee (D-CA), and Carolyn Maloney (D-NY) re-introduced the JUBILEE Act (HR 1130) in March 2005. The JUBILEE Act is groundbreaking legislation that would require the U.S. Treasury Department to work in appropriate multilateral settings to achieve 100 percent cancellation of the debts of 50 nations by the multi-lateral development institutions including the International Monetary Fund (IMF), World Bank, African Development Bank (AfDB), Asian Development Bank (ADB) and Inter-American Development Bank (IDB). The bill urges that the debt cancellation be paid for from the international financial institutions’ own resources and that it come without harmful conditionality attached. The JUBILEE Act will help build a better safer world by providing impoverished nations the fresh start necessary for development. In order to pass the JUBILEE Act, additional Congressional co-sponsors are needed. The more co-sponsors, the sooner the bill will be brought to a vote on the floor of the U.S. House of Representatives.
Read more, including frequently asked questions, here on the Jubilee USA website.