World Debt Day, an initiative supported by Jubilee Debt Campaign, Make Poverty History and various other organisations, takes place on Monday 16th May 2005. The aim if the campaign is for the cancellation of debts owed by poor countries across the world.

During this day, people who don’t agree with the situation where poor countries are paying to the rich world are challenged to express their minds on world's poverty and to send a letter to Prime Minister Tony Blair.

Many local communities are participating on the initiative with events taking place during the day all over the UK.

In addition, as the meeting of the G8 nations is approaching, initiatives all over the world, organised by members or allied organisations are taking place as a series of events. During these events, campaigners will try to draw the attention of the G8 leaders towards world poverty.

The Jubilee Debt Campaign is the successor of Jubilee 2000 and Drop the Debt in UK, co-working with many allied organisation from other countries.

The aim of the campaign is not just part debt-cancellation, but 100% cancellation. The initiative points out the unfairness of the situation where the poor countries pay debts to some of the richest countries in the world.

In a joint statement by the Jubilee Debt Campaign and coalition members ActionAid and Christian Aid, it was expressed that more than just the G8 proposal is needed. It requested to cancel the debt of all countries that need it, and includes 62 countries. Governments of these countries need to show they are spending recourses responsibly, but no economic policy should be imposed.

The goal of debt relief is to decrease the difference between the poorest and richest countries in the world, and for extra funds to be found to provide more recourses. According to jubileedebtcampaign.org.uk, this will require US$45.7bn per year for all 62 countries.

This year the UK is hosting the G8 summit in Edinburgh, and Prime Minister Tony Blair will be chair of the summit. He has promised to remember the voices of the thousands of people that gathered in 1998, when the G8 summit was held in the UK, and also those that called for the fulfilment of the Jubilee 2000 campaign.

Aside from this action, many other events will take place during the summit itself. The Jubilee Debt Campaign is planning the march on 2nd July 2005 in Edinburgh and approximately 100,000 attendants are expected.