A Global Week of Action against Debt

A Global Week of Action against Debt - October 14 to 21

Jan 29, 2007

Declaration On Debt, World Social Forum in Nairobi, Kenya

1. Campaigns, social movements, non-governmental organisations, community-based
organisations, faith-based organisations and activists from all around the world have
gathered in Nairobi, Kenya for the 2007 World Social Forum. Together, we the undersigned
participants of the World Social Forum are determined to achieve an end to debt
domination. It is a scandal that the rich world demands hundreds of millions of dollars
every day from the South in payment of ‘debts’ that have emerged from the unjust
economic relations that impoverish the South and enrich the North. Indebtedness is still
robbing the peoples of Africa, Latin America and Asia of their rights - their rights to
independence and political autonomy, as well as to health, education, water and all the
other essential goods and basic services which should be available to all.

2. The debt crisis is not just a financial problem for the countries of the South. It is also a
political problem that is based on and reinforces unequal power relations: debt continues
to be used as an instrument of control, through conditions attached to loans and debt
relief. It is an instrument of leverage used by lender countries and lender-controlled
institutions to: aid the entry of their transnational corporations; enforce their foreign
policy options and military and invasive strategies; secure favourable trade deals; and
promote resource extraction from recipient countries.

3. It is also a responsibility of the North: their reckless, self-interested, irresponsible and
exploitative lending has fostered this crisis, and their imposition of policies has deepened
it. Wealthy governments, transnational companies, and institutions such as the IMF, World
Bank, and WTO must all take responsibility for their roles in creating and perpetuating this
situation.

We also recognise the role of unaccountable and corrupt governments of the South in
creating this debt. These governments must make restitution for their theft from and
exploitation of peoples in the South.

4. We applaud the Norwegian campaigners, working in partnership and solidarity with
Southern movements, who succeeded in convincing Norwegian government to be the first
lender to cancel debts on the grounds of its own irresponsible lending. We know that their
years of hard work have brought the Norwegian government to this position. We call on
the G8 governments and other lenders to look at the debts which they are claiming, to
question the justice and legitimacy of these claims, and to recognise their own
responsibility. All lenders - governments, financial institutions and private companies -
must take up this challenge.

5. We know that our strength lies in the commitment and determination of social
movements, campaigns and individuals working in solidarity around the world. The
challenge to the injustice of debt domination has come and still comes from these tireless
and vocal efforts. This, over many years, has forced the debt crisis from being an issue
that few knew about, and that many governments did not acknowledge, to being a subject
of debate around the world. It has also brought successes such as that in Norway, and the
realisation of official debt audits in Ecuador and other countries. We, Southern and
Northern people’s movements and organisations, are determined to work and raise our
voices together until our call for an end to debt domination becomes irresistible.

6. Given the human suffering caused by historical and continuing exploitation of the
countries of the South, the imbalance of economic and political power, and the ecological
devastation inflicted on the South by commercial interests, governments and institutions
of the North, there is no question that the North is in fact in debt to the South. We assert
that the South is the creditor of an enormous historical, social, cultural, political and
ongoing ecological debt. This must be acknowledged, and restitution and reparations
must be made.

7. We are calling for just economic relations between and within countries. We are NOT
calling for lender-controlled initiatives to ease the financial flows of some impoverished
countries, or for debt relief dependent on conditions set by the institutions of the North.
We are calling for rich and powerful countries of the world to recognise that they are
benefiting from and failing to take responsibility for the exploitation of the South. We
assert the rights of peoples to hold their own governments to account, and call on
governments to uphold those debts. We are calling for official and citizens’ audits of debt
and a citizens’ audit of the international financial institutions. We are calling for systematic
social control of public indebtedness. We are calling for debt cancellation without the
imposition of conditions by lenders and for restitution and reparations. We stand in
solidarity with governments who choose to repudiate illegitimate debt. We are calling for
the total elimination of illegitimate, odious, unjust and unpayable debt.

Proposed calls to action:

1.A Global Week of Action against Debt - October 14 to 21
This week offers campaigners the opportunity to mark:
October 15 - 20th anniversary of the death of Thomas Sankara
October 16 - World Food Day
October 17 - International Day to Eradicate Poverty
October 20 - World Youth Day
October 19-21 - IMF-WB Annual meetings

The call to governments during the Week of Action will be:
South - debt repudiaton
North - debt cancellation

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