Total and Unconditional Debt Cancellation for Nepal!

PRESS RELEASE

Total and Unconditional Debt Cancellation for Nepal!

Published on Friday, 15 May 2015 11:56

The Asian Peoples’ Movement on Debt and Development (APMDD), its member organizations, its colleagues in the Jubilee South network, and its partners in the international community stand together with the people of Nepal as they struggle to survive in the aftermath of the April 25 and May 12 earthquakes and deal with unimaginable devastation, suffering and loss.

Once again, it has taken a disaster of massive proportions to highlight and remind the world of the intense vulnerabilities that people living in impoverishment and deprivation bear. Nearly 8,000 have died because of the first earthquake alone, and many more are missing, injured, starving and homeless.

One of the Least Developed Countries, Nepal ranks close to the bottom of the UN’s Human Development Index, 145th out of 187 countries. The slight improvement from 2014 means that the little gains made have but all been wiped out by the quake. Nepal is one of many countries in Asia where over a billion people are known to be living barely above the extreme poverty line between US$1.25 to US$2.50 a day. Already under several layers of socio-economic deprivations, they are at great risk of regressing into deeper impoverishment than before in the face of catastrophe and crises.

In 2013 alone, Nepal had to pay US$213 million to creditors as part of servicing a US$3.8 billion foreign debt that apparently has done little to lift the Nepalese people out of poverty. Among its creditors are the World Bank and the Asian Development Bank, whose lending has only gone into projects that have displaced communities, damaged the environment, privileged private sector investments in social services and kept the Nepalese people in conditions of economic dependence on debt and aid. ADB’s “concessional” lending for water projects, for instance, has been passed on several times from the central to the local government, with interest rates increasing at every turn.

The devastation in Nepal supposedly passes for access to the International Monetary Fund’s Catastrophe Containment and Relief Trust. Granting that this may alleviate the Nepalese people’s suffering, the depravity of having distressed peoples “qualify” for relief should be pointed out. If relief is to be substantive, the IMF should immediately and unconditionally cancel the US$10 million that will fall due for Nepal in 2015 as well as the entire amount of the principal.

If anything, the IMF continues to bring devastation across the Asian region with increasing fiscal conditionalities implemented through client states. These have ranged from the imposition of consumption taxes that unfairly burden the poor, to slashing public spending, public sector layoffs, privatization of social services and other forms of economic restructuring. The tragic consequences of more acute poverty and inequality, and the widespread violations of human rights today, are all too real for the peoples of the South.

We call for the immediate, total and unconditional cancellation of all debts claimed from Nepal – multilateral, bilateral and commercial – by all lenders including international financial institutions, governments and their development finance institutions, and private and commercial banks and investors.

We stand in solidarity with Nepal in these critical moments, committing our resolve and collective efforts as peoples’ organizations and social movements to help mobilize immediate aid and pursue the struggle towards building equitable, humane and sustainable societies.

13 May 2015

INITIAL SIGNATORIES:

Regional and International Movements and Networks

• Asian Peoples’ Movement on Debt and Development (part of the Jubilee South network)
• Asia Pacific Forum on Women, Law and Development
• Asia Pacific Research Network
• Bretton Woods Project
• Committee for the Abolition of Third World Debt (CADTM)
• European Network on Debt and Development (Eurodad)
• Focus on the Global South
• ICLEI - Local Governments for Sustainability - South Asia
• IBON International
• International Forum on Globalization
• Jubileo Sur Americas
• LDC [Least Developed Countries] Watch
• Migrant Forum in Asia
• NGO Forum on ADB, Manila
• Oxfam
• Society for International Development
• South Asia Alliance for Poverty Eradication
• Third World Network

National Organizations and Movements

AFRICA

The Gambia

• Worldview - The Gambia

Ghana

• Foundation for Grassroots Initiatives in Africa (GrassRootsAfrica)

Nigeria

• Africa Network for Environment and Economic Justice

Mali

• Alliance contre la Pauvreté au Mali

ASIA

Bangladesh

• Bandhu Social Welfare Society
• Bangladesh Krishok Federation
• Business and Welfare Initiatives Ltd
• Center for Participatory Research and Development
• Coastal Association for Social Transformation Trust (COAST)
• Community Development Library
• Equity and Justice Working Group–Bangladesh (EquityBD)
• Global Call to Action against Poverty–Bangladesh
• GreenWatch Dhaka
• Jatiyo Sramik Jote
• Light House
• Peoples Development Community
• Society of Development and Education for Small Households (SoDESH)–Satkhira
• Sushasoner Jonny Procharavizan (SUPRO)
• Voices for Interactive Choice and Empowerment (VOICE)

Cambodia

• Positive Change for Cambodia

India

• Centre for Human Rights and Development
• EMPOWER INDIA
• Environics Trust
• Freedom Foundation
• Gram Bharati Samiti
• Indian Social Action Forum
• Kerala Independent Fishworkers Federation
• Nadi Ghati Morcha
• National Confederation of Dalit Organizations (NACDOR)
• Public Advocacy Initiatives for Rights & Values in India
• SEEDS-India
• South Asia Women's Watch

Indonesia

• Aksi! – For Gender, Social and Ecological Justice
• Koalisi Rakyat untuk Hak Atas Air (KRuHA) [People's Coalition for the Right to Water]
• debtWATCH Indonesia
• Inspirator Muda Nusantara
• Solidaritas Perempuan

Japan

• Association pour la Taxation des Transactions pour l'Aide aux Citoyens (ATTAC) Japan

Korea

• Energy and Climate Policy Institute Korea

Malaysia

• Monitoring Sustainability of Globalization

Nepal

• All Nepal Women’s Alliance
• Beyond Beijing Committee
• Campaign for Climate Justice–Nepal
• Center for Socio-Economic Research and Development Nepal
• Civic Concern Nepal
• Jagaran Nepal
• National Federation of Youth NGO Nepal
• Right to Food Network–Nepal
• Rural Reconstruction Nepal
• Women Welfare Society

Pakistan

• Awami Workers Party
• Advocacy, Research, Training and Services (ARTS) Foundation
• Naz Male Health Alliance
• Pakistan Development Alliance
• Pakistan Kissan Rabita Committee
• Pakistan Fisherfolk Forum
• Rural Development Organization
• Youth Association for Development

Philippines

• Alyansa Tigil Mina
• Aniban ng Manggagawa sa Agrikultura
• Freedom from Debt Coalition (FDC)
• FDC Iloilo
• Global Call to Action against Poverty–Philippines
• Kalipunan ng Katutubong Mamamayan ng Pilipinas (KATRIBU)
• KATARUNGAN
• Koalisyong Pabahay ng Pilipinas
• Philippine Movement for Climate Justice
• Philippine Rural Reconstruction Movement
• RightsNet
• Sanlakas

Sri Lanka

• Centre for Environmental Justice/Friends of the Earth Sri Lanka
• Community Development Services

Thailand

• Migrant Assistance Program (MAP) Foundation
• Sustainable Development Foundation

EUROPE

• Both ENDS Netherlands
• Christian Aid UK
• Debt and Development Coalition Ireland
• Global Justice Now–UK
• Jubilee Debt Campaign–UK
• National Justice and Peace Network–England and Wales
• Jubilee Scotland
• Jubilee Germany
• Debt Justice Network Norway (SLUG)
• Ecologistas en Acción - Spain
• Observatori del Deute en la Globalització–Barcelona, Spain

LATIN AMERICA

Haiti

• Plateforme Haïtienne de Plaidoyer pour un Développement Alternatif (PAPDA)

Bolivia

• Fundación Jubileo

Argentina

• Dialogue 2000 - Jubilee South Argentina

NORTH AMERICA

United States

• Biofuelwatch
• Friends of the Earth US
• Institute for Policy Studies
• Jubilee USA Network
• National Conference on Weights and Measures
• New Rules for Global Finance

 This press release first appeared on Asian Peoples' Movement on Debt and Development's website.