Reform the ECGD, don't abolish it

Written by Super User 01 Oct 2010

Jubilee Debt Campaign, which works for the cancellation of unpayable and unjust poor country debts, says it wants the Export Credits Guarantee Department (ECGD) reformed not abolished. Responding to press reports that the ECGD is ‘under review’ as part of the Government’s ‘bonfire of quangos’, Nick Dearden, director of the UK coalition, commented: ‘We welcome the news that the ECGD is being considered for serious reform. For too long it has underwritten dodgy deals which have harmed human rights and the environment, and created toxic debts in the developing world. But scrapping or privatising the ECGD would leave unanswered questions about whether the state would continue as an underwriter of last resort for UK exports, and how the Government plans to fulfil its manifesto pledge to champion green exports. Privatisation could make the situation even worse if it means public money being spent with no public oversight’.

Pray: that the Government will seriously consider reforming the ECGD. (Job.35:2-3)

More: http://www.ekklesia.co.uk/node/13183

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