Excellencies,  Good morning. My name is Mae Buenaventura, working with the Asian Peoples’ Movement on Debt and Development and speaking today on behalf of the Civil Society Financing for Development Mechanism.  We note with concern that little/no attention has been given to increasing lending for climate action when there shouldContinue Reading

PRESS RELEASE: April 19, 2024 Activists gathered on the sidelines of the annual meeting of the IMF and World Bank in Washington DC today to demand “deep, wide and urgent debt cancellation” for Global South countries. Demonstrations were also held in the Philippines, Pakistan, Bangladesh, Sri Lanka and Nepal.  “WhileContinue Reading

Public debts at all-time high Burden of debt Illegitimate debts: harmful to people, communities and the plant The consequences of WB projects, coupled with IMF neoliberal policies have been devastating for vulnerable communities in the Global South. Indigenous peoples, rural communities, and marginalized populations have borne the brunt of environmentalContinue Reading

The IMF and the World Bank (IMF-WB) hold their Spring Meetings amidst an ever-worsening debt crisis, most harshly felt by 3.3 billion people living under governments that spend more on interest payments than education or health.  For many decades until today, the IMF-WB, with the backing of rich countries, haveContinue Reading

With the stage set for the trilateral meeting of US President Joe Biden, Japan Prime Minister Fumio Kishida, and Philippine President Ferdinand Marcos, Jr. in Washington D.C., civil society groups in the Philippines  warned the three world leaders against entering into a “dangerous, unholy alliance” to extend the life ofContinue Reading

By Lidy Nacpil, coordinator of Asian Peoples’ Movement on Debt and Development (APMDD) Many countries in the Global South are burdened with huge public debts. These rising debts are a drain to public resources that are urgently needed for sustainable development programs, and further pressure Southern governments to prioritize debtContinue Reading