We are working in 12 Arab countries with 9 national networks (with an extended membership of 250 CSOs from different backgrounds) and 23 NGO members.
A joint letter– signed by 138 organizations including ANND was sent to governments and their representatives at the IMF and World Bank.
It calls for:
• The permanent cancellation of all external debt payments due in 2020 by developing countries, with no accrual of interest and charges and no penalties.
• The provision of additional, fresh emergency finance that does not create more debt.
• Debt cancellation and new financing to be provided free of demands for market-friendly and austerity-focused policy reforms in developing countries.
• Measures to be put in place to protect developing countries from lawsuits when ceasing 2020 debt payments.
• A process under UN auspices to be agreed in the longer term, to support systematic, timely, and fair restructuring of sovereign debt.