Apr 08, 2020
A debt jubilee to tackle the Covid-19 health and economic crisis
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
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