They call upon world leaders, national governments, and financial institutions both public and private, to take urgent action in compliance with their obligations and responsibilities, and commit to unconditional cancellation of public external debt payments. An international statement issued during Global Week (October 10-17) of action for debt cancellation sought the decisive and full solution to the debt problem as part of the profound transformation of economic and financial systems that the present crises so urgently demand. Meanwhile, the CSO network appealed to the World Bank, International Monetary Fund (IMF), Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), and other bilateral, regional, and multilateral development financiers of Bangladesh. Much of this debt is illegitimate, the CSO network argues. CSOs argue that the demand is much more than “debt relief,” but also for “debt justice.”Saleem Samad is an independent journalist, media rights defender, and recipient of Ashoka Fellowship and Hellman-Hammett Award.

Source: Dhaka Tribune November 23, 2020 21:00 UTC