‘Cancel debt’ campaign held as IMF, World Bank meet
BANGKOK—As finance ministers gather in Bangkok for the weeklong annual meetings by the International Monetary Fund (IMF) and World Bank Annual which end Sunday, Fight Inequality Alliance (Fia) is calling for debt cancellation and an end to lending rules that force governments to pay creditors before they pay for hospitals, schools and food.
“Prices of bread, cooking oil, and fuel keep rising as the government chases IMF targets with new taxes. And nearly 67% of revenue is swallowed by debt repayment while Kenya’s healthcare system collapses,” said Fia Kenya national coordinator Brenda Osoro.
Fia calls on governments to wipe out the debts crushing poorer countries, and make every lender take the hit, from banks and hedge funds to the IMF and World Bank.
“Stop selling off public services,” the coalition also said.
“The World Bank should fund free public healthcare and education, not push their privatization.”
