Reforms For Debt Reduction

Apostle Steve Lyston, Contributor

Debt at any level steals a great deal from us, including our peace of mind. One cannot be truly free until he or she is debt free. Forgiveness of debts means to loosen and set one free. In order to have stability and growth for all in our economy, we must address the debt situation. Otherwise an entire generation is at risk of being wiped out.

According to a United Nations report, 1.7 billion people live in multidimensional poverty and 1.3 billion in income poverty. This information is alarming and shows us that leaders at every level now have to put political and other differences aside and work together to address this situation.

There are many factors that cause individuals and nations to fall into debt à spiritually and naturally. The include:

•  lack of knowledge and discipline in business;
•  lack of integrity in business;
•  unforgiveness;
•  injustice from varying law makers;
•  high interest rates;
•  unemployment;
•  mismanagement;
•  late-fee assessment;
•  lack of production;
•  not tithing (Malachi 3);
•  generational curses;
•  lack of prayer;
•  disobedience to biblical instructions à for example, the three seasons of giving.

The final two points on the above list are the biggest keys.

God has given the instruction for us to pray daily the Disciple's Prayer, also known as the Lord's Prayer. (Matthew 6: 9-13) When we fail to pray this daily, we are denying ourselves of His daily provision. Inherent in this prayer also is our request for forgiveness of our debts!

God has also instructed us to obey three main seasons for giving à Tishri, Pentecost and The Passover. Tishri is the end and beginning of a season. It usually falls toward the end of September to mid-October. Pentecost falls within May and June. The Passover falls in mid-March to mid-April. This is also the season where everything springs back to life!

Deuteronomy 16 and Exodus 23 clearly outline that for those who obey, He will bless them. He promised more than seven benefits for our obedience and this includes debt cancellation.

Also, it is clearly outlined that every seven years larger countries should reduce the debt and creditors should have debt write-offs for individuals and organisations.

One of the reasons that the nations are plunging deeper into debt is that the leaders are bailing out major companies and these packages for dealing with debt were not meted out to the people, particularly the poor. The Bible clearly outlines in Matthew 18, that once mercy, compassion and debt write-offs are extended to the larger organisations then they should extend it to the poor! If this is not done, then the nations will delve into further chaos and problems.

It is critical for us to increase what we own and decrease what we owe! Divestment of assets and continued borrowing of loans will sink us further into debt. The time has come for us to address operational cost, carry out proper strategic planning and build more warehouses and factories to provide jobs.

Jamaica has a great deal of natural resources, as do other nations. There is great value in our vegetation, mineral sites, cays à including Port Royal. The country should cease selling certain properties and lands.

There are many organisations within the nation that can be merged, for example the University of Technology, Jamaica and the College of Arts, Science and Agriculture; the Jamaica Constabulary Force and the Island Special Constabulary Force à just extend the courses and merge institutions.

Merge the Jamaica customs and immigration departments as an executive agency.

Merge the Office of Utilities Regulation (OUR), the Broadcasting Commission, the vehicle examination depot. All these are compliance organisations and can be merged as an executive agency.

Merge the Urban Development Corporation and the National Works Agency.

Carrying out such reforms is the beginning of reducing national debt, utilising the excess and wastage, and instead pump it into education. (II Kings 4). Pouring into empty vessels is key to debt reduction. Human beings are the greatest assets and it is critical for us to invest educationally.

Have a multifunctional workforce. (Matthew 20)

Examine the benefits of credit unions versus other lending agencies.

If we plan to have a generation that is truly free, then we all need to unite in order to get there.

Apostle Steve Lyston is a biblical economics consultant and author of several books, including 'End Time Finance' and 'The New Millionaire'.