During the past 30 years, countries in the global South have borrowed large sums of money from international lending institutions, governments of industrialized countries, and commercial banks. In many cases, these investments failed to create the economic development and revenue that planners envisioned. Nonetheless, developing countries continue to repay these debts. For many years, debt repayments to the global North have exceeded the flow of new investments, loans, and grants to the global South. Debt relief - Jubilee - has become an important aspect of justice for countries in the global South.
UCC General Synod Resolutions and Pronouncements