Does your local representative supported the Jubilee Act? Representatives Waters (D-CA), Leach (R-IA), Frank (D-MA), Bachus (R-AL), Lee (D-CA), and Maloney (D-NY) re-introduced the JUBILEE Act (HR 1130) in March 2005. The JUBILEE
Act is groundbreaking legislation that would require the U.S. Treasury Department to work inappropriate multilateral settings to achieve 100 percent cancellation of the debts of 50 nations by the multi-lateral development institutions including the International Monetary Fund (IMF),World Bank, African Development Bank (AfDB), Asian Development Bank (ADB) and Inter-American Development Bank (IDB). The bill urges that the debt cancellation be paid for from the international financial institutions’ own resources and that it come without harmful conditionality attached. The JUBILEE Act will help build a better safer world by providing impoverished nations the fresh start necessary for development. It is now in committee.