We the Grey Nuns of the Sacred Heart, join in the worldwide movement to cancel the crushing international debt of impoverished countries. We consider that it is urgent for us to:
We recognize the complexity of world economics, and therefore we join with economists, faith groups, social justice advocates, environmentalists, and development agencies around the globe in seeking understanding of and solutions to the debt crisis. Read the full text of our stand
Many impoverished nations who borrow money pay back their debts over and over again. For example, between 1970 and 2002, Africa received $540 billion in loans and paid back $550 billion, but still owed $295 billion. Debt service payments steal resources needed to prevent disease and provide adequate care. Nations could spend their freed-up resources on education, health, infrastructure, and access to water.
Jubilee USA Network, of which the GNSH are members, is an alliance of more than
Jubilee works toward building an economy that serves, protects and promotes participation of the most vulnerable. Jubilee has won critical global financial reforms and more than $130 billion in debt relief for the world’s poorest people.
“The Jubilee year was meant to restore equality among all of the children of Israel, offering new possibilities to families which had lost their property and even their personal freedom. On the other hand, the jubilee year was a reminder to the rich that a time would come when their Israelite slaves would once again become their equals and would be able to reclaim their rights. At the times prescribed by law, a jubilee year had to be proclaimed to assist those in need.” Pope John Paul II
Efforts are underway to build support to influence world-wide decision makers (i.e. the White House, Congress, the G20, International Financial Institutions and the United Nations) to promote poverty reduction and move solutions to the international debt crisis. Ultimately, the goal is to create an international financial system that protects and ensures participation of the most vulnerable within the context of human rights. Advocacy focuses on:
Join us in our efforts to become better informed about international debt. Working together we can lobby the legislature and the Secretary of the Treasury to support the following:
“Society has a moral obligation, including governmental action where necessary, to assure opportunity, meet basic human needs, and pursue justice in economic life.” US Catholic Bishops
Prayer
O God, to whom we owe
more than we can count,
in our desire to control all that is
and will come to be,
we hold your other children
in the grip of debt
which they cannot repay,
and we make them suffer
the poverty we dread.
Do no hold us to our debts,
but unchain our fear,
that we may forgive
and release the Other
into an open future of unbounded hope,
Through Christ our Savior,
Amen
(Education for Justice. Center of Concern)
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