October 16, 2008

GENEVA – An effective response to the continuing global debt crisis is not merely about examining the amounts a debtor country owes a lending state or institution, rather it is about recognizing the mutual moral responsibility in restoring people's justice, dignity, hope and life.

This dimension is the focus of a new publication of the Lutheran World Federation (LWF) titled "Not Just Numbers – Examining the Legitimacy of Foreign Debts," produced in October. It provides insights from the LWF program on illegitimate debt, started in 2005 in Latin America, and invites reflection on new initiatives related to the question of illegitimate debt, including recent initiatives by the Governments of Ecuador and Norway.

Produced in the LWF Documentation series (No. 53), the publication offers contributions from authors from across the globe who, elaborate among other foci, why churches, governments and civil society must take concerted action against illegitimate foreign debt. The presentations also offer biblical approaches as well as a Lutheran theological dimension with regard to the debt crisis, and give examples justifying the call for the cancellation of sovereign debts that can be categorized as illegitimate.

In the foreword, LWF General Secretary Rev. Dr Ishmael Noko points out that a debt relationship must be based upon transparency, voluntary action, trust and mutuality between lender and borrower. He argues against any unjust, corrupt or oppressive arrangement as it becomes "deeply corrosive, not only of the relationship but of each of the parties involved." When such an agreement takes away the strength of one party, "it undermines the moral strength of both," he adds.

He expresses the hope that the new publication, while offering specific cases of action by churches and their partners in the field of politics and academia, would also encourage others to re-examine and reflect on debt from the perspective of justice and legitimacy and to focus on both the moral and spiritual dimensions of debt relationships.

"Not Just Numbers" is co-edited by Rev. Martin Junge, LWF Department for Mission and Development and Mr Peter Prove, International Affairs and Human Rights, in collaboration with Mr Frederick Schlagenhaft, Office for Communication Services. The 112-page publication is also available in German under the title, "Nicht nur Zahlen Kritische Fragen zur Legitimitaet von Auslandsschulden."

Pre-orders at USD 15 per copy can be placed with Lutheran University Press at, http://www.lutheranupress.org/catalog/-p-95.html. For further information please contact Ms Colette Muanda at, cmu@lutheranworld.org, Tel: +41/22-791 63 70, Fax: +41/22-791 66 30.

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