Senate votes to saddle Iraq with $10 billion in debt - U2 Feedback

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Old 10-17-2003, 08:27 PM   #1
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Senate votes to saddle Iraq with $10 billion in debt

Ye gods.

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Old 10-18-2003, 08:04 AM   #2
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If you share Speedracer's concern about this, PLEASE call your leaders, espically if you're in VA (if you're in the US). I have a meeting with Sen Allen on this bill in about a month and any letters that get to him ahead of time on this bill will make my job easier. Here's more information on the Iraqi Freedom from Debt Bill

Jubilee USA's Action Page on the Iraqi Freedom from Debt bill



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Old 10-18-2003, 08:25 AM   #3
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Here's a more detailed update from Jubilee USA. If you're in California or Ohio, we need you!

Update on Odious Debt Bill
?Iraqi Freedom from Debt? HR 2482

The lead sponsor of HR 2482, Representative Maloney from NY and her staff has worked tirelessly for the passage of this bill ? a bill that would legislate cancellation or radical reduction of the odious debt held by International Monetary Fund and World Bank over Iraq.

The latest strategy to pass HR 2482 was to attach the bill to the Iraqi Supplemental bill. Unfortunately, it was ruled that HR 2482 could not be attached to the appropriations bill. The only way that this bill would have hope to succeed this year in the House of Representatives is if Representative Oxley (R-4-OH) would support the legislation. It would also be a great boost to the bill if Representative Pelosi (D-8-CA) would sign on to the bill as a co-sponsor.

Without endorsement from Representatives Oxley and Pelosi we will have to re-introduce the bill next year and start over. We will still need these vital Representatives to be on board if we are to be successful in 2004.

In the Senate, there is not a companion to HR 2482, but there has been some dialogue sponsored by Senator Evan Bayh, Democrat of Indiana and Senator Ben Nelson, Democrat of Nebraska. about a deal in regards to the question of issuing loans or grants to Iraq for reconstruction. The Senators have offered that if the U.S. Administration can convince Iraqi creditors to cancel most of Iraqi outstanding debt that the loans from the U.S. would be converted to grants.

Iraq will not be able to reconstruct without debt cancellation and grants instead of loans; equally important, we will loose a vital opportunity to set precedent on odious debt in U.S. law if HR 2482 fails. Please act now to protect this bill.


If you live in Ohio or California, or have any relationships with Representative Oxley or Pelosi?s offices, please call them and ask them to support HR 2482. If you live anywhere else in the country, please call to ask your representative to support HR 2482 and to contact Oxley and Pelosi to engage their support as well. Local newspaper articles or letters to the editor would be another way to put pressure on the members. If you get published, please send a copy to the Jubilee office so we can celebrate your success!

Please see the talking points on the Jubilee site at or call the Jubilee office at 202-783-3566.


In dialogue with the Department of Defense, Jubilee was able to attain a supportive statement from the Department of Defense that affirms the need for debt relief for Iraq and even describes the odious nature of the debt.

They say in their statement dated October 8,

?The people of Iraq are incapable of servicing the debt incurred by the former dictatorship of Saddam Hussein. There is a very real likelihood that history will repeat itself in Iraq. We must therefore act on the lessons learned from the First World War.

We won the First World War. But we failed the peace. The sense of popular desperation after the First World War bred the social, economic, and political circumstances that led to fascism in Italy, and to Nazism and the reign of Adolph Hitler in Germany.

Saddam Hussein, his economic incompetence and seemingly insatiable thirst for violence and aggression against his neighbors and, especially, his own citizenry, saddled the people of Iraq with an almost $200 billion insurmountable debt.

Debt relief for the people of Iraq will go a long way toward winning the war on terrorism and securing the peace.?


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Old 10-18-2003, 08:58 AM   #4
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This sucks. I'll definitely fire off e-mails protesting this.
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Old 10-19-2003, 12:34 PM   #5
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Thanks Verte. Hey AFW ladies and Angels, who do we know who is in CA or OH? I know Jubilee San Fransisco is active. We NEED to get this message thru.

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