The Importance of Debt Amnesty

City bank and chase began sending agents around the world trying to convince third world dictators and politicians to take out loans. How they started out at extremely low rates of interest that almost immediately sky rocketed at 20% or so due to tight us. The immediate demand was to stop the i m f from imposing structural adjustment policies, which were doing all the direct damage. But we managed to accomplish that surprisingly quickly. And our more long term aim was debt amnesty, something along the lines of the biblical jubilee as far as we were concerned.