Hundreds of networks and organizations around the world will mobilize during October 12-19 carrying out different activities for the Week of Global Action Against Debt and International Financial Institutions (IFIs).

More than 200 global, continental and national networks, organizations and social movements from Asia and the Pacific, Africa, Latin America and the Caribbean, North America and Europe have joined the Call of Action demanding the immediate unconditional cancellation of illegitimate debts and an end to the conditionalities of the IFIs such as the IMF, World Bank and Regional Development Banks as well as the payment of the ecological debts owed to the South. The organizations summon everyone to mobilize and challenge the IFIs, transnational corporations, and governments (North and South) to acknowledge their responsibilities for the continuing problem of debt domination.

“Justice, not charity!” is what they demand

On the October 13, debt campaigners from the whole world will be carrying out activities and mobilizations against Illegitimate debt, IFIs and Climate change as part of the II Week of Global Action against Debt and International Financial Institutions (IFIs), involving more then 200 networks, organizations and movements from Africa, Asia and the Pacific, Latin America and the Caribe, Europe and North America between October 12-19. The week involves various demands, but the 13^th is specially focused on climate justice and the need to solve the persistent problem of debt domination.

Every year, hundreds of millions of dollars of loans are used to finance projects such as oil, coal and gas and other extractive industries, mega infrastructure projects and agrofuel production that are environmentally destructive and greatly exacerbate climate change. The loans are extended - mainly by the World Bank and other IFIs – to governments and are being paid for by public funds while transnational corporations are the main beneficiaries.  Not only that, but now the World Bank is attempting to assume pre-eminent role in global financing of climate mitigation and adaptation and the promotion of "clean technology" and "clean development¨ and recently unveiled its Climate Investment Funds (CIFs).

FOR FOOD AND FINANCIAL SOVEREIGNTY, 

FOR ECONOMIC AND CLIMATE JUSTICE: 

*Cancel DEBT Now 

*End IFI Conditionalities 

*Pay the ECOLOGICAL DEBT to the South 

Global hunger and the growing impact of climate change are dramatic symptoms of the persistent problem of debt domination. Large debt service payments on both external and domestic debt claims mean that scarce resources are diverted from needed investments to insure food sovereignty and climate change protection. This is part of the injustice of the debt and for this ^alone debt cancellation, debt repudiation or other forms of nonpayment are urgent.

But the present food and climate crises must also be traced to policies that have been imposed on the countries of the South for decades, through the use of debt and aid, access to credit and even debt relief as instruments of coercion.  The impacts have been disastrous. For example: 

* the imposition of universal prescriptions for export-oriented high growth economic strategies has led to reliance on expensive imported GMO seeds, fertilizers, and pesticides, massive shifts to non-staple and non-food export crops including agrofuels, the conversion of agricultural lands to export processing zones, luxury housing and resorts, and the forced reception of food aid. 

*  finance, trade and investment liberalization have promoted unfair competition from subsidized food products from the North, abusive hydrocarbon, mineral and other natural resource extraction projects, and the privatization of basic human rights such as water and electricity. 

Debts that were used for harmful projects or to impose such policies and conditionalities, are illegitimate debts that should not be paid under any circumstance.  

These lender-driven debts and policies have benefited Northern based economic and corporate interests, reinforced the concentration of wealth, and fueled a rise in casino-style food and resource price speculation –contributing significantly to the present food and climate crises and weakening the ability of Southern peoples and governments to respon adequately. They have also added to the forced migration of millions of people: victims of hunger and climate change people seeking to defend human and environmental rights and to escape the militarization and war that often accompany economic and climate crimes. 

Despite a decade now of promises and debt-relief initiatives, the scourge of debt bondage continues to take a heav toll. Moreover, the solutions being posed for the food and climate crises by the International Financial Institutions, the G8 governments and other Northern-related economic and corporate interests, including new loans and additional trade and investment concessions, are in essence simply more of the same old policies that have contributed so greatly to the 

creation of these disasters. 

Peoples all over the world are mobilizing to secure real solutions of food and financial sovereignty, economic and climate justice. Canceling or stopping unjust payments on unacceptable debt burdens – in particular illegitimate debts – and ending the continued role of IFIs such as the IMF, World Bank, and the Regional Development Banks in the creation and maintenance of the food and climate crises, are urgent and necessary steps toward such solutions. Restitution and reparation of the ecological and historical debts that those same Northern interests have accrued with the peoples and countries of the South as a consequence of their policies would provide a solid basis for the building of alternatives.

Join us during the Week of Global Action against Debt and the IFIs, October 12 to 19, 2008, in order to advance these calls and demands. Together we can achieve freedom from debt domination, build food sovereignty, and secure climate justice. 

Platform 

As people’s organizations and movements (labor, farmers, women, youth, and indigenous peoples), faith-based organizations, ecological, social  and political  movements, and concerned citizens, we pledge to mobilize together during the Week of Global Action against Debt and the IFIs and throughout coming months.  Through awareness-building and 

education, policy advocacy and direct action, we will challenge the governments of the G8 countries, the International Financial Institutions, transnational corporate interests and our own governments everywhere -whether in the South or in the North-, to acknowledge their responsibilities for the continuing problem of debt domination and its critical role in the food and climate crises.  We will demand that they take decisive action to: 

We urge you all to join the Week of Global Action against Debt and International Financial Institutions - a week of various forms of citizen's actions and mobilizations worldwide from October 12 to 19, 2008.

The Week includes many special dates:
October 12 - Continental day of resistance to colonialism and neocolonial neoliberalism (Americas)
October 13 - Day of Action against Debt, IFIs and Climate Change
October 14 - Day of Action against IFIs, Debt and Privatization
October 15 - Day of action for Debt Repudiation (anniversary of the death of Thomas Sankara, ex-president of Burkina Faso who called for debt repudiation just before his assassination)
October 16 – Day of Action for Food Sovereignty
October 17 – Day of Action against Poverty

Together let us challenge and confront Northern governments, international banks, transnational companies, and multilateral institutions such as the IMF, World Bank, and WTO to take responsibility for debt domination and illegitimate debt.

Let us also demand past and present governments and government officials in the South to be accountable for their role in the debt problem. Let us declare our readiness to stand in solidarity with those who choose to repudiate illegitimate debt.

Let us pursue alternative and responsible financial relations, principles and standards to stop the re-accumulation of illegitimate debt. These will involve major changes in international and national structures, processes and policies towards the establishment of equitable and just economic, financial and political relations.