Between 1981 and 1997 the less developed countries paid over US$2.9 trillion in interest and principal payments. This is about US$1.5 trillion more or double what they received in new loans. (1)
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In 1998, the Highly Indebted and Poor Countries average debt load was 165.6% of their gross national product. (2)
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Every single day in 1999, $128 million was transferred from the poorest countries to the richest in debt repayments. (3)
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For every one dollar in aid to developing countries, more than seven dollars comes back to rich countries in the form of debt servicing. (4)
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In 2000, Niger, one of the poorest countries in the world paid $94 million in debt service, and $27 million on health care. Thirteen percent of the population have access to sanitation. (5)
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Bolivia has the highest child mortality rate on the continent, yet it spends half of all its export income on paying its debt. (6)
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In 1997 the 20 per cent of the world's people in the richest countries had 74 times the income of the poorest 20 percent. This inequality has widened from 30 to 1 in 1960. (7)
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The net wealth of the 10 richest men in the world is one and a half times greater than the total national income of the 54 poorest countries. (8)
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In 1996, Southern countries sent $187 billion more to Northern creditors for debt repayments than they received in aid. (9)
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For Statistics on debts owed per country check out:
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www.parisclub.org
www.jubileeplus.org
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1-Canadian Ecumenical Jubilee Initiative. Back
2- World Bank, World Development Finance, 2000. Back
3- World Bank. Global Development Finance 2001, 1999 figures for 62 lowest income countries. Back
4- World Bank Global Development Finance 2001, based on 1999 figures for grants and total debt service. Back
5- Drop the Debt. Reality Check: the need of deeper debt cancellation and the fight against HIV/AIDS, April 2001. Back
6- Canadian Ecumenical Jubilee Initiative . "A New Beginning", 1998. Back
7- UN Human Development Report 1999, p36. Back
8- In Common campaign materials, CCIC. Back
9- In Common campaign materials, CCIC. Back