The Global Call to Action against Poverty and Debt Cancellation
GCAP’s position on debt is clear – it should be cancelled non-selectively and unconditionally. The non-selectivity principle is a particularly important one. Indeed, the criteria for deciding that Uganda and not Kenya gets debt relief are entirely arbitrary and illogical. Given the paltry nature of the debt relief offered at the G8 – it leaves Africa with over $200bn of debt and annual repayment obligations far exceeding the scale of the debt relief – we cannot afford to take our eyes off the debt ball. The issue of debt is not so much what we demand but whom we address with what messages.
GCAP demands
We call on donor Governments and International Institutions to:
- Immediately and without externally imposed conditions cancel the odious, illegitimate and unpayable debt of poor and middle income countries through a fair, democratic and transparent process to free up resources for human development. Where debt cancellation measures are inadequate or failing to enable poor countries to reach the MDGs and provide basic social services, we support collective developing country strategies for the repudiation of all odious and illegitimate debts.
- Reverse the flight of capital from poor countries and identify and repatriate stolen assets by taking action against tax havens, financial institutions, multinationals and others facilitating this resource leakage.
- Establish a fair and just world order in which International Financial Institutions (especially the World Bank, International Monetary Fund and World Trade Organisation) operate within the broad principles enshrined under UN commitments and human rights obligations to better regulate the world economy.
GCAP Strategic Directions: Debt Cancellation
GCAP has developed its strategic thinking for the years 2009-11, read the whole document, or the extract focusing on Debt Cancellation Objectives and Outcomes.
Debt - GCAP Works!
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Debt Content
- GCAP Indonesia
- Put People First: G20 Counter Conference Saturday 7 November 2009 Westminster Central Hall - London
- On 7 November, as the G20 returns to the UK, the agenda is to nurse an already failed economic model back to life, while looking to sew up an unjust international climate deal outside the UN process.
- Fun rally with a serious message stops downtown Madrid
- The march saw groups from every part of the political spectrum carry a range of messages about trade justice, debt cancellation, hunger and the MDGs. The overriding message, that the global crisis could not be the excuse to the developed world for reneging on their commitments to the poorest. The spotlight shone brightest on the Spanish government of course, who’s commitment to reaching 0.7% of GNI in aid is being monitored by civil society against the backdrop of a recession and rapidly rising national unemployment.
- I am Standing up in Bangladesh this weekend....
- I am Abdul Awal and I am taking action against poverty in my native Bangladesh this weekend.
- I am Standing up in Peru because...
- Hector Bejar is coordinator of the GCAP Peru coalition and is mobilising this weekend.
