Full Coverage: Debt

14.04.2008 NEW YORK, Apr 14 (OneWorld) - The U.S. House of Representatives is likely to endorse a legislative proposal this week calling for the cancellation of debts owed by some of the world's poorest countries.

13.04.2008

28.03.2008 Zambia has been forced to reallocate resources intended for poverty alleviation to pay a "vulture fund," a company that scammed the impoverished nation to make millions off its cancellation of a 1999 debt, writes an organization promoting African development.

28.03.2008 Despite being the locomotive of the global economy, the Asia-Pacific region still faces enormous challenges like food, energy and water security. UNESCAPÂ’s Economic and Social Survey of Asia and the Pacific 2008 reveals that by making agriculture both economically and socially viable, the region can achieve sustainable and inclusive growth.

25.03.2008 The governmentÂ’s loan waivers for farmers are more of a populist stunt in the election year and less of seeking solutions to the current agrarian crisis, says journalist P.Sainath. The waivers fail to address moneylender debts and limit beneficiaries by a pre-determined two-hectare mark.

21.03.2008 Two villages in Maharashtra in western India tell of two different tales of survival. While one village is lush green with abundant water and yielding fields, the other in VidarbhaÂ’s cotton belt has rising debts, shrinking incomes and desperate homes.

11.03.2008 MumbaiÂ’s Sangini Women's Co-operative Bank is a beacon of hope for the sex workers of Kamathipura. By providing a monetary buffer to its red-light district clients, this small Indian bank seeks to change the lives of these women for the better by making them less vulnerable to debts.

29.02.2008 India has announced its budget for the next financial year. In a move to provide a major relief to the small farmers, the government has decided to cancel their entire debt. It may be noted that for past many years now the farmers have been committing suicides due to indebtedness and other related reasons.

24.02.2008 NEW YORK, Feb 24 (OneWorld) - While in Africa this week, George W. Bush drew fire for his plans to expand the United States' military presence on the resource-rich but economically strapped continent.

06.02.2008 India has slipped to 128th position in the world human development index. An average expenditure of farmer household is less than half a dollar a month. About 82% of them suffer from indebtedness. Yet the government is withdrawing from sectors that matter most to the poor, says Magsaysay awardee P. Sainath.

31.01.2008 A massive debt relief package for farmers is being finalised by IndiaÂ’s agriculture ministry. The scheme will provide debt relief to small and marginal farmers who own land up to two hectares and large farmers. The total outgoings over four years are expected to be around INR 700 billion.

21.11.2007 In September 2007, over 600 people assembled in Indian capital New Delhi to put the World Bank on trial through an independent peopleÂ’s tribunal. Neil Tangri in his incisive article describes the tribunal as an attempt to renew a silenced debate over neoliberlaism and a direct challenge to the BankÂ’s monopoly on knowledge.

06.11.2007 Crop failures, rising debts and state apathy are making farmers take their own lives in the ‘prosperous’ Indian state of Gujarat. Debt-ridden families are now calling upon the government to compensate their losses.

29.10.2007 Agrarian tragedy is taking a new form in rural Vidarbha, in the Indian state of Maharashtra. Spiraling medical costs and the lack of a basic health care system are making farmers mortgage their lands.

09.10.2007 NEW YORK, Oct 9 (OneWorld) - Calls for substantial changes in loan conditions for poor countries are on the rise as the new International Monetary Fund (IMF) chief prepares to take office next month.

27.09.2007 The World Bank has decided not to be ‘tried’ by the Tribunal’s jury. A statement released by the Bank on the concluding day of the IPT, while claiming interest in an open public debate, has cited its reasons for abstaining itself.

27.09.2007 The Independent Peoples Tribunal (IPT) on the World Bank in India has held the BankÂ’s policies and projects guilty of causing untold sufferings among millions of poor and of violating human rights. The four-day hearing was attended by activists, civil society groups, academics, policy analysts and project affected communities who presented evidence against the Bank.

25.09.2007 The IMF has backed away from a formal involvement in BangladeshÂ’s economic policies following protest from civil society groups and a High Court rule on why the government shouldnÂ’t be asked to stop deal with the multilateral lending agency.

11.09.2007

07.09.2007 NEW YORK, Sep 6 (OneWorld) - A coalition of faith-based human rights groups has launched a nationwide campaign to win congressional support for legislation that would cancel debts owed by the world's poorest nations.