Jubilee 2000

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Campaign which sought to remove the debt burden from a number of the poorest countries in the world through a unilateral gesture at the end of the twentieth century. It was supported by various religious groups, trade unions, and NGOs, and lobbied individual creditor nations and the IMF and World Bank. By unilaterally cancelling debt through a one‐off gesture it was hoped that poverty could be alleviated, without what were seen as debilitating constraints of conditionality and whilst avoiding undermining the international system of finance by encouraging debt default. The campaign succeeded in putting public pressure on Western governments to address the problems of Third World debt, and the IMF and World Bank granted limited debt relief to 22 of the most debt‐ridden countries.

http://www.jubilee2000uk.org/ Jubilee 2000 website.

Subjects: Politics.

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