Call for debt cancellation for Pakistan

Written by Super User 07 Sep 2010

The Jubilee Debt Campaign is calling on the British government to exert pressure on international institutions to cancel Pakistan's debt. The Pakistani government is currently in negotiations with the International Monetary Fund (IMF), the country’s most important creditor, to ask for debt relief for the disaster-stricken country. The IMF is believed to be insisting that Pakistan introduces a value-added-tax system and removes energy sector subsidies in order to receive further loans. A range of charities, church and campaign groups, including the Methodist Relief and Development Fund and Christian Aid, have joined the call for Western borrowers to take some responsibility for Pakistan's heavy indebtedness. They argue that Pakistan needs an immediate freeze on debt repayments, expressing fears that the country's annual $3 billion repayments dwarf current levels of emergency aid. Campaigners argue that it is inappropriate for the IMF to hold the country to ransom amidst the current disaster.

Pray: for governments and the IMF to review their stance and grant debt relief to Pakistan. (Dt.24:6)

More: http://www.ekklesia.co.uk/node/12989

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