UNSUSTAINABLE and ILLEGITIMATE DEBT
Over 550 civil society organizations are calling for immediate debt cancellation to help lower-income countries fight Covid-19 in an Open Letter delivered to governments, international institutions, and, lenders.
You are invited to an international online concert-rally to celebrate the power of peoples' movements and express our determination to overcome debt domination.
Civil society organizations around the world are coordinating on a joint initiative – the Global Week of Action for Debt Cancellation on October 10 to 17. The Week calls for debt cancellation and addressing unsustainable and illegitimate debt.
The Philippines has been in a vulnerable position since the beginning of the Covid-19 pandemic. This vulnerability can be explained by social, economic, health and financial factors. As a result of these pre-existing conditions, the crisis has been acutely felt by the population of the country.
The IMF, the G7 and G20 have announced relief measures, such as the short-term suspension of payments for a limited group of countries. But the exceptional situation calls for far more ambitious decisions.
