Tuesday, October 13, 2009

Sumatra Earthquate and Indonesia's International Debt

Former ETAN field organizer and former Jubilee USA staffer writes from Indonesia on the Sumatra earthquake for Jubilee's Blog the Debt.

Some excerpts:
Indonesian government officials have estimated that at least $600 million will be needed to repair basic infrastructure damaged by the earthquake. Countries around the world have pledged and sent humanitarian assistance, but it is not enough to enable Indonesia to rebuild. Meanwhile, Indonesia continues to send almost $9 billion every year to foreign governments and international financial institutions in payment on its foreign debt....

Jubilee colleagues in Indonesia, including the Koalisi Anti-Utang (KAU/Anti-Debt Coalition) are calling on the Indonesian government to reallocate the money currently slated for debt repayment to finance reconstruction and to prepare for future disasters. They are also urging the Indonesian government not to take on new loans to finance disaster response.

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