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News :: Media
Havana Brainstorms on Foreign Debt Struggle
27 Sep 2005
Havana Brainstorms on Foreign Debt Struggle
Havana, Sep 27 (Prensa Latina) Perspectives and options of the current struggle on the illegitimacy of foreign debt are focusing debates during the second day of the 2nd World Jubilee South Assembly taking place in Havana.

Delegates from 40 countries, part of an enormous network of campaigns, organizations, social, religious and political movements, are analyzing how the debt situation is in many countries, as well as showing that the most indebted countries lack of infrastructures and social services to improve their people's quality of life.

Twenty years after being proclaiming the illegitimacy of foreign debt, Jubilee South is being held with the slogan that the struggle against that scourge is more necessary today, because expenses are important for social development.

Foreign Debt is one of the most important causes for many developing countries' impoverishment, since it is responsible for massive violations of humanity's economic, social and cultural rights.

As a consequence of this, nearly two billion people in the world, 52.8 percent of world population, are living in poverty (with less than two dollars daily) and 1.1 billion people in abject poverty.

In 1996, foreign debt was at $670.9 billion and in 2002 it reached $789.3 billion.

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