Dear Jubilee Scotland Campaigner,

Come and take part in our Big Dodgy Deal to launch our exciting new campaign, East Princes Street, Saturday 31st July @ 1pm – check out our Facebook page and join the Group. Jubilee Scotland is shining the spotlight on the shady government Export Credit Guarantees Department (ECGD) and we need your help to do it. This little known yet outstandingly influential department is responsible for the accumulation of 90% of the debt owed to Britain. Many of their international deals are hugely unethical; contributing to climate change, damaging local communities and fuelling corruption and conflict. Domestic economic concerns mean bad news globally as rather than tightening rules to ensure responsible finance the ECGD is doing exactly the opposite. The child labour ban for example is now optional in some cases. For more information and to see our asks click here.

This summer marks five years on from the Make Poverty History Campaign. In 2005 over a quarter of a million people marched the streets of Edinburgh to send a message to world leaders at the G8 summit that they would not stand for the structures that maintain inequality. On 26th June Jubilee Scotland joined forces with Oxfam and many other campaigners for the ‘Auchterarder Audit’ in Perthshire to show the G8 that eyes are still fixed on them and we are holding them accountable for the promises made. The public pressure as a result of Make Poverty History meant the Multilateral Debt Relief Initiative (MDRI) came into being. In addition to the Highly Indebted Poor Countries (HIPC) initiative a total of nearly $120 billion has been granted in debt relief. Despite this the G8 have not delivered on many of their promises and the conditions placed on countries to receive debt relief still maintain unequal power structures. The array of speakers and workshops at the event sent out a reminder of the diverse achievements of the campaign at the same time stressed that now is the time to Make Broken Promises History and hold the G8 to account. To find out more click here.

The past month has also seen huge breakthroughs for Liberia and the Democratic Republic of Congo, as within a few days of each other they became the 29th and 30th countries to receive debt relief. This was enabled by the Highly Indebted Poor Countries (HIPC) initiative, which was implemented as a result of the international debt campaign. Liberia and the DRC secured $4.6 billion and $12.3 billion worth of debt relief respectively. This has been negotiated with the World Bank, International Monetary Fund (IMF), the African Development Bank and an array of other multilateral and bilateral creditors. As a result Liberia’s debt burden will be reduced by 90% to around 15% of GDP. Under the arrangement both countries more access to resources, which enables them to make large steps towards reducing poverty and increase social spending. HIPC continues to have positive effects on millions around the world enabling the release of unjust debts, proof that campaigning produces tangible results.

Thanks for all your help and support and see you at the end of the month,

Alice O’Rourke

Jubilee Scotland