The Economics of Ebola

Written on: October 30, 2014

Fourteen years ago, at our October, 2000 congregational meeting, we Grey Nuns of the Sacred Heart voted to take a corporate stand to “join the worldwide movement to cancel the crushing international debt of impoverished countries.” We stated that we believed participation in “Jubilee2000/USA” Campaign, educating ourselves and others regarding the key debt issues, and advocacy for actions by government and world monetary organizations were urgent for us.

The following information puts the Ebola issue in a larger frame and helps to show how our global economy impacts much more than trade and the bottom line. It comes from Jubilee USA  which you can read about on our website.  We are passing this on  as an FYI and FYAction hoping that you will pass it on to others who may be interested!

Pace e bene,

Sister Diane Bardol, GNSH

Last week Jubilee USA met with the White House to talk about the connections between Ebola and global financial policies. The nation of Guinea, where the epidemic began, spends more on debt than on public health and loses millions from corporate tax avoidance and corruption.

Today, the three countries impacted most by the Ebola epidemic are spending nearly $200 million each year on debt. In addition to servicing its debt, Guinea has lost $436 million to corruption and corporate tax avoidance while spending only $101.7 million on public health expenditures. Your support wins economic reforms that protect and expand life-saving social services in poor countries. Your support cancelled Haiti’s debt after its devastating earthquake and helped send 52 million kids to school in Africa. Clean drinking water. More schools. Fewer children dying of preventable illnesses. That’s what your support for Jubilee has meant.

This year, your support has allowed us to push back predatory vulture funds at the White House, the United Nations and the IMF. Ebola highlights just how important these continuing victories are. The money these predatory funds seek to collect is the same money poor countries need to fund nurses, doctors and hospitals. In 2009, vulture funds even targeted Liberia, suing to claim about 5% of Liberia’s total budget.

When you donate $1,000, $500, $100 or $50, your matched gift stops vulture funds and builds an economy that works for everyone.

We are so grateful for your support.

In Peace,
Andrew Hanauer
Campaigns Director
Jubilee USA- United States

 

 

This entry was posted in With a Heart for Justice and tagged: debt, Debt Relief, Ebola, epidemic, global financial policies, Guinea, public health