FINAL SIGN-ON STATEMENT FOR NEPAL'S DEBT CANCELLATION
Here's the final sign-on statement statement for TOTAL AND UNCONDITIONAL CANCELLATION OF NEPAL'S DEBT which we have initiated through our network member Asian People's Movement on Debt and Development (APMDD).
1) We have stepped up momentum particularly targeting the “International Conference on Nepal’s Reconstruction 2015” which is scheduled on 25 June. The conference is basically aimed at mobilising and securing resources from the international community, with Nepal now having released its Post Disaster Needs Assessment (PDNA) reconstruction blueprint. Participation has been encouraged at the highest political level. More info on http://icnr2015.mof.gov.np/page/about_conference
The reconstruction plan is expected to cost USD 6.6 billion over 5 years. Please see PDNA details: http://www.worldbank.org/content/dam/Worldbank/document/SAR/nepal/Nepal-PDNA-Damage-by-sector-June-2015.pdf
2) Our demand of Nepal’s Full Debt Cancellation will be contextualised on an integrated, holistic Reconstruction package: we know that the international community will only ‘pledge’ as always! Out of total amount pledged for relief to date, only half of the funding has been received in the form of commitments, contributions and carry-over!
Please see details https://fts.unocha.org/reports/daily/ocha_R10_E16575_asof___1506190958.pdf
Full Cancellation of our external debt will indeed be a genuine and meaningful ‘global partnership for sustainable development’! Attached is the debt fact sheet of Nepal as of 13 April 2015. With external debt amounting to slightly over USD 3 billion, its full cancellation will indeed contribute to the recovery and reconstruction costs.
3) Our demand will also be premised upon LDC govts' consistent call for FULL CANCELLATION of both bilateral and multilateral debt (public and private) as agreed by the General Assembly in its resolution 68/224 (adopted at 68th session in 2013 vis-a-vis Follow-up to LDC-IV) and in line with GA decision contained in OP 16 of the GA resolution 61/188 (adopted at 61st session in 2006) which states if a country fulfills the criteria of being an LDC, it is eligible for debt write-off. In this context, Nepal being a party to LDC Group should also be consistent in calling for FULL CANCELLATION of all external debt especially in the wake of the quake disaster as the right political moment!
4) Paragraph 100 of the FfD3 Addis Ababa Accord REVISED ZERO DRAFT in the ongoing negotiations also mentions about the cancellation of debt of affected countries by natural disasters.
5) We are already engaging with key ministries including the National Planning Commission and PM’s office.
6) Here's a media article published on 22 June 2015
7) Here is another media article published on 23 June 2015 on local online media.
8) The signed copy of a memorandum is attached below and can be accessed here, which is being submitted to all MPs via Pigeonhole.
Total and Unconditional Debt Cancellation for Nepal!
The Asian Peoples’ Movement on Debt and Development (APMDD), its member organizations, its colleagues in the Jubilee South network, and its partners in the international community stand together with the people of Nepal as they struggle to survive in the aftermath of the April25 and May 12 earthquakes and deal with unimaginable devastation, suffering and loss.
Once again, it has taken a disaster of massive proportions to highlight and remind the world of the intense vulnerabilities that people living in impoverishment and deprivation bear. Nearly 8,000 have died because of the first earthquake alone, and many more are missing, injured, starving and homeless.
One of the Least Developed Countries, Nepal ranks close to the bottom of the UN’s Human Development Index, 145th out of 187 countries. The slight improvement from 2014 means that the little gains made have but all been wiped out by the quake. Nepal is one of many countries in Asia where over a billion people are known to be living barely above the extreme poverty line between US$1.25 to US$2.50 a day. Already under several layers of socio-economic deprivations, they are at great risk of regressing into deeper impoverishment than before in the face of catastrophe and crises.
In 2013 alone, Nepal had to pay US$213 million to creditors as part of servicing a US$3.8 billion foreign debt that apparently has done little to lift the Nepalese people out of poverty. Among its creditors are the World Bank and the Asian Development Bank, whose lending has only gone into projects that have displaced communities, damaged the environment, privileged private sector investments in social services and kept the Nepalese people in conditions of economic dependence on debt and aid. ADB’s “concessional” lending for water projects, for instance, has been passed on several times from the central to the local government, with interest rates increasing at every turn.
The devastation in Nepal supposedly passes for access to the International Monetary Fund’s Catastrophe Containment and Relief Trust. Granting that this may alleviate the Nepalese people’s suffering, the depravity of having distressed peoples “qualify” for relief should be pointed out. If relief is to be substantive, the IMF should immediately and unconditionally cancel the US$10 million that will fall due for Nepalin 2015 as well as the entire amount of the principal.
If anything, the IMF continues to bring devastation across the Asian region with increasing fiscal conditionalities implemented through client states. These have ranged from the imposition of consumption taxes that unfairly burden the poor, to slashing public spending, public sector layoffs, privatization of social services and other forms of economic restructuring. The tragic consequences of more acute poverty and inequality, and the widespread violations of human rights today, are all too real for the peoples of the South.
We call for the immediate, total and unconditional cancellation of all debts claimed from Nepal – multilateral, bilateral and commercial – by all lenders including international financial institutions, governments and their development finance institutions, and private and commercial banks and investors.
We stand in solidarity with Nepal in these critical moments, committing our resolve and collective efforts as peoples’ organizations and social movements to help mobilize immediate aid and pursue the struggle towards building equitable, humane and sustainable societies.
List Of SIGNATORIES:
Regional and International Movements and Networks
Asian Peoples’ Movement on Debt and Development (part of the Jubilee South network)
Asia Pacific Forum on Women, Law and Development
Bretton Woods Project
Committee for the Abolition of Third World Debt (CADTM)
European Network on Debt and Development (Eurodad)
Focus on the Global South
ICLEI - Local Governments for Sustainability - South Asia
International Forum on Globalization
Jubileo Sur Americas
LDC [Least Developed Countries] Watch
Migrant Forum in Asia
Society for International Development
South Asia Alliance for Poverty Eradication
Third World Network
Asia Pacific Research Network (APRN)
NGO Forum on ADB, Manila
National Organizations and Movements
Worldview - The Gambia
Foundation for Grassroots Initiatives in Africa (GrassRootsAfrica)
Africa Network for Environment and Economic Justice
Alliance contre la Pauvreté au Mali
Bandhu Social Welfare Society
Bangladesh Krishok Federation
Business and Welfare Initiatives Ltd
Center for Participatory Research and Development
Coastal Association for Social Transformation Trust (COAST)
Community Development Library
Equity and Justice Working Group–Bangladesh (EquityBD)
Global Call to Action against Poverty–Bangladesh
Peoples Development Community
Society of Development and Education for Small Households (SoDESH)–Satkhira
Sushasoner Jonny Procharavizan (SUPRO)
Voices for Interactive Choice and Empowerment (VOICE)
Positive Change for Cambodia
Centre for Human Rights and Development
Gram Bharati Samiti
Indian Social Action Forum
Kerala Independent Fishworkers Federation
National Confederation of Dalit Organizations (NACDOR)
Public Advocacy Initiatives for Rights & Values in India
South Asia Women's Watch
Aksi! – For Gender, Social and Ecological Justice
Koalisi Rakyat untukHakAtas Air (KRuHA) [People's Coalition for the Right to Water]
Inspirator Muda Nusantara
Association pour la Taxation des Transactions pour l'Aide aux Citoyens (ATTAC) Japan
Energy and Climate Policy Institute Korea
Monitoring Sustainability of Globalization
All Nepal Women’s Alliance
Beyond Beiling Committee
Campaign for Climate Justice–Nepal
Center for Socio-Economic Research and Development Nepal
Civic Concern Nepal
National Federation of Youth NGO Nepal
Right to Food Network–Nepal
Rural Reconstruction Nepal
Women Welfare Society
Nepal Government Employees Organization
Awami Workers Party
Advocacy, Research, Training and Services (ARTS) Foundation
Naz Male Health Alliance
Pakistan Development Alliance
Pakistan KissanRabita Committee
Pakistan Fisherfolk Forum
Rural Development Organization
Youth Association for Development
Aniban ng ManggagawasaAgrikultura
Freedom from Debt Coalition (FDC)
Global Call to Action against Poverty–Philippines
Kalipunan ng Katutubong Mamamayan ng Pilipinas (KATRIBU)
Koalisyong Pabahay ng Pilipinas
Philippine Movement for Climate Justice
Philippine Rural Reconstruction Movement
Centre for Environmental Justice/Friends of the Earth Sri Lanka
Community Development Services
Migrant Assistance Program (MAP) Foundation
Sustainable Development Foundation
Both ENDS Netherlands
Christian Aid UK
Debt and Development Coalition Ireland
Global Justice Now–UK
Jubilee Debt Campaign–UK
National Justice and Peace Network–England and Wales
Debt Justice Network Norway (SLUG)
Ecologistas en Acción - Spain
ObservatoridelDeuteen la Globalització–Barcelona, Spain
Plateforme Haïtienne de Plaidoyer pour un Développement Alternatif (PAPDA)
Dialogue 2000 - Jubilee South Argentina
Friends of the Earth US
Institute for Policy Studies
Jubilee USA Network
National Conference on Weights and Measures
New Rules for Global Finance