Socialist Outlook

Socialist Viewpoint, International, Socialist Outlook and their supplements, 1984–2002

Cancel the Third World debt

Liberation Spring 1995 · 357 words

• Jodley Green Imagine that you have taken out a loan. You have paid ten times the amount of the original loan in interest, but you are still in debt.

You work in order to pay off the debt, but the people you owe money to also control how much you are paid.

You sell some of your he International Monetary Fund has the power to interven‹ possessions, but the people you owe money to also control the price at which you can sell.

Maybe in desperation you would take out another loan just to pay the Interest or vour tirstoan.

Nightmare

Does this nightmare sound like being in debt to a cross detween a loan shark, the mafia and a con man? The situation de scribed is the one that exists for the noorest na. tions of the world which have massive debts.

The World Bank, the International Monetary Fund and the G7 (Group of. seven richest coun. tries) use their power to keep wages low in the poorest countries, and to keep down the price of the goods they export.

They can decide to re duce the valle of weak currencies at will.

The system is blatantly untair. and innumane. Countries where famine and starvation are an everyday reality produce cash crops such coffee. and sugar in order to pay off the debt. The International Monetary. Fund has the power to intervene into local economies, forcing cuts in public spending, such as the health service. Send in this coupon for details of the 1995 camp in sunny southern France! For just E150including meals, travel and entry to disco, concerts, films and discussions at the camp. You'll get a leisurely drive through the French countryside plus a full week - from 22 to 29 July - at the camp Itself.

• Send me a leaflet about the camp. Here's two first class stamps.

• I want to go. Here's my £35 deposit, made payable to 'Liberation, Publishing Association'.

Name Address Post Code Tel Age Send this coupon to Liberation!, PO Box 1109, London N4 2UU

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