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Congressional Candidate Favors Dropping Debt For Haiti and Other Impoverished Countries
Congressional Candidate Favors Dropping Debt For Haiti and Other Impoverished Countries
Marina del Rey, CA, January 20, 2010 -- Congressional Candidate Marcy Winograd (CA-36) applauds the Obama administration’s commitment to grant Haiti 100-million dollars in immediate support, and urged the President and Congress to do everything in their power to cancel Haiti’s remaining international debt.
“With a death toll expected to hit 200,000, a lack of clean running water and food, and hospitals in ruins, the last thing Haiti can afford right now is a high-interest loan payment that increases its debt burden,” says Winograd. “The history of Haiti is the history of colonization and exploitation by richer countries, so it is important for the U.S. and Europe to pay its debt to Haiti in the way of grants, rather than loans.”
In June, 2009, the World Bank and the International Monetary Fund forgave Haiti 1.2 billion of its debt, erasing approximately two-thirds of Haiti’s debt, according to the Jubilee organization, a coalition of 75 religious and human rights groups.
Winograd urges congress members to co-sponsor Congresswoman Maxine Waters' bill, HR 4405, Jubilee Act for Debt Relief, which would relieve Haiti and additional countries of onerous interest payments on U.S. loans and international loans.
“Whereas my opponent, Jane Harman, failed to co-sponsor or vote for Congresswoman Waters’ previous debt-relief bill, I would urge others to champion such legislation,” says Winograd, adding, “interest payments can cost more than a nation’s annual expenditures on medicine.”
Congresswoman Waters' latest debt-relief bill was introduced with bi-partisan support in the House of Representatives. From southern California, Congresswoman Laura Richardson (CA-37/Long Beach) is listed as a co-sponsor. Jane Harman is not listed as a co-sponsor.
Congresswoman Waters’ previous debt relief bill, H.R. 2634, The Jubilee Act for Responsible Lending & Expanded Debt Cancellation, passed 285-132, April 16, 2008, in the House, but was then referred to committee in the Senate. Previous co-sponsors of Waters’ debt relief efforts included Brad Sherman (CA-27/Sherman Oaks), and Howard Berman (CA-28/Van Nuys) . Harman, however, was not listed as a co-sponsor, and was recorded as “Not Voting” when the majority of the House passed the bill.
Congresswoman Waters’ bill, HR 4405, calls on the U.S. Treasury to negotiate a multilateral agreement for debt cancellation for up to 22 poverty-stricken countries, while urging the adoption of more responsible lending practices.
In a related matter, Winograd has joined U2 Irish rocker Bono’s efforts to “Drop the Debt” - signing a petition, along with 70,000 others, at One.org, calling on the World Bank and other creditors to cancel Haiti’s debt payments. Through social networks, Winograd is urging campaign supporters to follow suit.
To learn more about the Winograd For Congress campaign, visit:
www.winograd4congress.com/
Contact:
Michael Jay
Campaign Manager, Winograd for Congress
michael@winogradforcongress.com
Ph: (818) 445 4520
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Dropping the debt impoverished countries have or owe towards the USA? What about the many tens of BILLIONS of dollars the USA owes them in reparations? The USA and France owe reparations on an order [over] $20BN to Haiti, the amount that France, alone, owes to Haitians. The following article by Bill Quigley states this quite clearly.
"Why the US Owes Haiti Billions – The Briefest History"
http://www.commondreams.org/view/2010/01/17-6
EXCERPT:
The US has worked to break Haiti for over 200 years.
...
After the 1804 revolution, Haiti was the subject of a crippling economic embargo by France and the US. US sanctions lasted until 1863. France ultimately used its military power to force Haiti to pay reparations for the slaves who were freed. The reparations were 150 million francs. (France sold the entire Louisiana territory to the US for 80 million francs!)
Haiti was forced to borrow money from banks in France and the US to pay reparations to France. A major loan from the US to pay off the French was finally paid off in 1947. The current value of the money Haiti was forced to pay to French and US banks? Over $20 Billion - with a big B.
END OF EXCERPT
When referring to what France and the USA, combined, owe, to Haiti, the over $20bn amount, it's clearly an understatement; since that is what France, alone, owes. What the USA owes Haiti likely is close enough to this amount, if not more; and although I don't know what the actual sum would amount to there surely are some people who do know. Bill Quigley evidently could say whether I'm far off of the mark, or not, and there must be other people who also can determine a close approximation of what the USA really owes to Haiti, alone (besides the many other countries or peoples the USA owes major reparations to).
If Rep. Marina del Rey does not keep this in mind and make it a real and public issue, then what are her words worth? Another political stage show?
The USA and other countries should drop debts supposedly owed to them by impoverished countries, but this is nothing compared to what's owed to the latter countries and this should not be dropped. The reparations should be PAID, in full.
And we know that $20bn would be easy for the USA to provide to Haiti in reparations. The USA really spends $1TN or more a year on the military, militarisation, enrichening the MIC, etcetera; and loves to make rich thieving banksters richer, from tax dollars robbed from the general population. Relatively speaking, $20bn in owed reparations would be honorable and "a drop in the bucket" for the USA to make.
If that's not done, then I guess that Rep. Marina del Rey's words amount to too little and considerable whitewassh. Of course the debts she speaks of should be dropped, they morally need to be dropped; but the reparations need to be made to or for these impoverished countries. This complete package needs to be made or provided.
Mike Corbeil