Latin American churches rethink debt problem
-14/12/05
Foreign debt payments that over
Latin American churches rethink debt problem
-14/12/05
Foreign debt payments that overwhelm poor nations by constituting a serious barrier to human development should be re-measured according to the debtorsí real payment capacity, a leading economist has told a major ecumenical meeting of Latin American church leaders.
Ecuadorian economist Franklin Canelos was speaking at a Latin American Council of Churches (CLAI) consultation with European cooperation agencies.
He said that foreign debt must also not be permitted to threaten environmental balance or to be used as a tool of political pressure.
The specialist proposed that foreign debt payments, where they could not be abandoned, should include incentives to buy products from debtor nations on the part of the creditors.
ìThere is a need to establish clear parameters in fiscal terms that guarantee the fulfillment of the commitments acquired without affecting the development of the debtor nations,î he affirmed.
The event, convened by the World Council of Churches and CLAI, ended in Geneva last week. Its purpose was to address the mission of the Church and the witness and solidarity work carried out by Christians in Latin America and the Caribbean.
Agency participants included Bread for All (Switzerland), ICCO Holland, the Church of Sweden and Christian Aid (Britain).
For his part, Brazilian economist Adhemar Pinheiro concluded that democratization projects registered in the region in the 1980s and the stabilization policies of the 1990s have simply ìnot responded to the need for justice and equity in Latin America and Caribbean countries.î
While dictatorships were replaced by elected democratic regimes and have ìcuredî problems by reducing the size of the state and liberalizing the economy, the continent continues to suffer from an increasing gap between the rich and the poor, he noted.
Pinheiro also said that the quest for economic integration remains uncertain, above all when national interests take priority over regional interests and at a time when governments have pragmatic agendas, seeking short term achievements for their countries.
Participants at the event affirmed the biblical criterion of concern for the poor and marginal when assessing economic impact.
[Also on Ekklesia: Bolivia erupts against inequality and poverty; Journeys With Garth Hewitt in Latin America; Campaigners hail debt victory but warn of missing billions; Aid agency welcomes chancellor’s debt initiative]
Latin American churches rethink debt problem
-14/12/05
Foreign debt payments that overwhelm poor nations by constituting a serious barrier to human development should be re-measured according to the debtors’ real payment capacity, a leading economist has told a major ecumenical meeting of Latin American church leaders.
Ecuadorian economist Franklin Canelos was speaking at a Latin American Council of Churches (CLAI) consultation with European cooperation agencies.
He said that foreign debt must also not be permitted to threaten environmental balance or to be used as a tool of political pressure.
The specialist proposed that foreign debt payments, where they could not be abandoned, should include incentives to buy products from debtor nations on the part of the creditors.
‘There is a need to establish clear parameters in fiscal terms that guarantee the fulfillment of the commitments acquired without affecting the development of the debtor nations,’ he affirmed.
The event, convened by the World Council of Churches and CLAI, ended in Geneva last week. Its purpose was to address the mission of the Church and the witness and solidarity work carried out by Christians in Latin America and the Caribbean.
Agency participants included Bread for All (Switzerland), ICCO Holland, the Church of Sweden and Christian Aid (Britain).
For his part, Brazilian economist Adhemar Pinheiro concluded that democratization projects registered in the region in the 1980s and the stabilization policies of the 1990s have simply ‘not responded to the need for justice and equity in Latin America and Caribbean countries.’
While dictatorships were replaced by elected democratic regimes and have ‘cured’ problems by reducing the size of the state and liberalizing the economy, the continent continues to suffer from an increasing gap between the rich and the poor, he noted.
Pinheiro also said that the quest for economic integration remains uncertain, above all when national interests take priority over regional interests and at a time when governments have pragmatic agendas, seeking short term achievements for their countries.
Participants at the event affirmed the biblical criterion of concern for the poor and marginal when assessing economic impact.
[Also on Ekklesia: Bolivia erupts against inequality and poverty; Journeys With Garth Hewitt in Latin America; Campaigners hail debt victory but warn of missing billions; Aid agency welcomes chancellor’s debt initiative]