Not Just Numbers: Examining the Legitimacy of Foreign Debts »

The issue of external debt and its consequences for the population of indebted countries has been a concern of the Lutheran World Federation (LWF) for more than three decades. Recently the discussion has focused increasingly on the concept of the legitimacy or illegitimacy of external debt. But what is meant by "illegitimate debt," and how can this concept be translated into political action?

This book gives an overview of the current involvement of churches and NGOs, and of their attempts to bring the concept of illegitimacy into the political debate on debt relief and responsible lending. Theological and ethical perspectives are presented, as well as a conceptual discussion regarding the concept of debt illegitimacy. Regional perspectives from authors around the globe present a diversified picture regarding the understanding of illegitimate debt and at the same time constitute a valuable resource for further discussions on the subject.

Preface Ishmael Noko 5

Foreword Kjell Nordstokke 7

Illegitimate Foreign Debt as a Field of Action for the Churches Gloria Rojas 11

Illegitimacy in practice: Case 1 16

Biblical Approaches to the Struggle Against Illegitimate Foreign Debt Juan Pedro Schaad 17

A Lutheran Theological Approach to Illegitimate Debt Walter Altmann 25

Transformation Processes in the Advocacy Work on Illegitimate Debt Ángel F. Furlan 33

Civil Society Action on Illegitimate Debt Jüet;rgen Kaiser 41

Lenders, not Borrowers, are Responsible for "Illegitimate" Loans Joseph Hanlon 51

Illegitimacy in practice: Case 2 60

Why Norway Took Creditor Responsibility-the Case of the Ship Export Campaign Kjetil G. Abildsnes 61

Illegitimacy in practice: Case 3 72

The Audit Commission of Ecuador Alejandro Olmos 73

Debt Cancellation and the Malawi Economy Joseph P. Bvumbwe 81

Illegitimate Debt in the Philippines 85

Illegitimacy in practice: Case 4 96

From Irresponsible to Responsible Lending: A Swedish Perspective Sofia Svarfvar 97

Conclusion: "Not Just Numbers"-De-legitimizing Illegitimate Debt Peter N. Prove Martin Junge 103

Contributors 111