{"id":644,"date":"2008-04-07T06:16:09","date_gmt":"2008-04-07T14:16:09","guid":{"rendered":"http:\/\/bbrace.laughingsquid.net\/wordpress\/?p=644"},"modified":"2008-04-07T06:16:09","modified_gmt":"2008-04-07T14:16:09","slug":"the-jubilee-act","status":"publish","type":"post","link":"https:\/\/bbrace.net\/wordpress\/?p=644","title":{"rendered":"The Jubilee Act"},"content":{"rendered":"<p>The Jubilee Act, a bill currently moving through Congress, would extend debt<br \/>\n     cancellation to 67 low-income countries, provided they demonstrate plans to spend the<br \/>\n                          money wisely on poverty reduction programs.<\/p>\n<p>Despite debt relief agreements in 1999 and 2005, countries of the Global South continue<br \/>\n     to spend $100 million every day to pay foreign debts, often incurred by undemocratic<br \/>\n     governments and under unfair lending practices. In 2005, Mexico spent $44 billion to<br \/>\n     service debt, more than the entire budget allocated for education. Such a tremendous<br \/>\n     outflow of money to rich countries clearly contradicts the international community&#8217;s<br \/>\n     commitment to end poverty. Instead, debt payments limit a country&#8217;s ability to create<br \/>\n     opportunities for people to live the lives they choose at home and force millions to<br \/>\n                                  migrate in search of work.<\/p>\n<p>Debt cancellation stimulates economies. For example, Uganda has invested its 2006 debt<br \/>\n      relief savings of $57.9 million in primary education, healthcare and infrastructure<br \/>\n      upgrades. Newly available resources can also support agricultural advancements and<br \/>\n     other critical economic development projects. Greater economic prospects result from<br \/>\n                         debt cancellation and fair economic policies<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Jubilee Act, a bill currently moving through Congress, would extend debt cancellation to 67 low-income countries, provided they demonstrate plans to spend the money wisely on poverty reduction programs. Despite debt relief agreements in 1999 and 2005, countries of the Global South continue to spend $100 million every day to pay foreign debts, often [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_s2mail":"","spay_email":""},"categories":[10,11,12,14,42,45],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/bbrace.net\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/644"}],"collection":[{"href":"https:\/\/bbrace.net\/wordpress\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bbrace.net\/wordpress\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bbrace.net\/wordpress\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bbrace.net\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=644"}],"version-history":[{"count":0,"href":"https:\/\/bbrace.net\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/644\/revisions"}],"wp:attachment":[{"href":"https:\/\/bbrace.net\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bbrace.net\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bbrace.net\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}