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The Canadian Ecumenical Jubilee Initiative is asking leaders of developed countries around the world to forgive third world debt at the turn of the millennium. Is this a worthwhile initiative? Is it realistic? If the debt is forgiven, what should we do to ensure that it doesn't become unmanageable again?
This measure would go a long way toward elevating economic difficulties in so many hardpressed countries. Once all these debts were dissolved it would be necessary to ensure a similar situation did not again develop. Perhaps this would mean dissolving the IMF and the World Bank and replacing them with an international organization whose mandate was to ensure equitable distribution of what is truly valuable to the peoples of the world - food and shelter.

Monetary systems are not based on anything of intrinsic value, more and more it is all just information being sent over phone lines. Wouldn't it be grand if we could do away with all of that and get back to basics.

-Ann Marie Weirzbicki


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