We the following Civil Society Organizations (CSOs) from all over the world, are calling on the World Bank (WB), International Monetary Fund (IMF), Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB) and all bilateral, regional and multilateral development financiers of Bangladesh to suspend the realization of debt installments for all public debts of developing countries combating the COVID-19 pandemic so that the current crisis is not aggravated.
Countries, irrespective of developed, developing and the Least Developed Countries (LDCs), are in a predicament due to the COVID-19 pandemic and are all facing an acute shortage of emergency protective devices and life-saving equipment. Bangladesh’s economy is also severely under stress due to the additional burden of pandemic management while the country has a budget deficit of USD 17.65 billion in the current financial year. Despite the budget deficit, the Government of Bangladesh (GoB) has allocated an additional 9.06 billion USD as a bailout to the private sector. The GoB now needs a supplementary amount of USD 8.11 billion to fight COVID-19 in the health sector alone. Another USD 1.7 billion, over and above the national budget, is required for supplying adequate food to 34 million people living below the poverty line. Considering the calamitous situation, GoB needs at least USD 1.5 billion for providing subsidies in agriculture and rural economies dominated by micro, small and marginal (MSM) producers in order to ensure the food security of the country.
We want to urgently bring to your attention that the GoB budget for the current financial year is forced to allocate 6.20 billion USD for servicing external debts to International Financial Institutions. At this critical time if this servicing of public debts are suspended, the GoB will be able to put the amount into serving emergency health, food and agriculture sectors to fight the COVID-19 pandemic. We urge all the multilateral, regional and bilateral financial institutions to follow the suggestions proposed by the World Bank and IMF and suspend servicing of the public debts for 2020, so that GoB can free its limited resources and allocate it solely for helping the people in overcoming the COVID-19 challenge.
We therefore strongly demand the suspension of all installments of public debt for at least the financial year 2020-2021 so that the country can better combat the pandemic and overcome the impact of this disaster on its citizens’ health, food and economic vulnerabilities.
THIS STATEMENT IS SUBMITTED ON BEHALF OF 122 GLOBAL CSOs, BY:
- Hasan Mehedi, Member Secretary, Bangladesh Working Group on External Debt (BWGED)
- Ziaul Hoque Mukta, General Secretary, Campaign for Sustainable Rural Livelihoods (CSRL)
- Nurul Alam Masud, General Secretary, Food Security Network (KHANI) Bangladesh
- Barrister Jyotirmoy Barua, Convener, Life and Nature Safeguard Platform (LNSP)
- Rayyan Hassan, Executive Director, NGO Forum on ADB
SIGNATORIES TO THE STATEMENT
- 350.org, Asia
- Aamra - Ek Sachetan Prayas, India
- Actionaid Bangladesh
- ADAB, Bangladesh
- Akhil Bhartiya Prakritik Chikitsha Parishad, India
- All Employees Union of Information and Telecommunication, India
- AOSED - An Organization for Socio-Economic Development, Bangladesh
- Apon Foundation, Bangladesh
- Asian Peoples Movement on Debt and Development (APMDD)
- ATTAC Japan
- Bandhan, Bangladesh
- Bangladesh Environmental Lawyers Association (BELA), Bangladesh
- Bangladesh Krishak Federation (BKF), Bangladesh
- Bangladesh NGO Network for Radio Communication (BNNRC), Bangladesh
- Bangladesh Working Group on External Debt (BWGED), Bangladesh
- Beyond Copenhagen Collective, India
- BINDU (Best Initiative National Development Unification), Bangladesh
- BRICS Feminist Watch, BRICS Countries
- Buriganga Banchao Andolan, Bangladesh
- Campaign for Good Governance (SUPRO), Bangladesh
- Campaign for Sustainable Rural Livelihoods (CSRL), Bangladesh
- Center for Energy, Ecology and Development (CEED), Philippines
- Center for Environment and Participatory Research (CEPR), Bangladesh
- Centre for Bangladesh Studies (CBS), Bangladesh
- Centre for Environmental Justice (CEJ), Sri Lanka
- Centre for Financial Accountability (CFA), India
- Centre for Human Rights and Development (CHRD), Mongolia
- Change Initiative, Bangladesh
- Christian Aid, Bangladesh
- Civil Society Women Organization (CSWO), India
- CLEAN (Coastal Livelihood and Environmental Action Network), Bangladesh
- Climate Watch Thailand
- Coalition for Human Rights in Development (CHRD), United States
- COAST Trust, Bangladesh
- Collective for Economic Justice, India
- Committee for the Abolition of Illegitimate Debt (CADTM), India
- Committee for the Abolition of Illegitimate Debt (CADTM), International
- Committee for the Abolition of Illegitimate Debt (CADTM), Pakistan
- CoreCarbonX, India
- Corporate Accountability, United States
- CSOs Network on SDGs, Mongolia
- Development Observer NGO Coalition, Mongolia
- Development Synergy Institute (DSI), Bangladesh
- Digo Bikas Institute, Nepal
- Environics Trust, India
- Equitable Cambodia
- Equity and Justice Working Group - Bangladesh (EquityBD)
- Eurodad (European Network on Debt and Development), Belgium
- Europe solidaire sans frontières (ESSF), France
- Focus on the Global South, Thailand
- Food Security Network (KHANI), Bangladesh
- Fresh Eyes, United Kingdom
- Friends of the Earth, United States
- Gandhi Ashram Trust, Bangladesh
- Gandhi International Mission, India
- Green Advocates International, Liberia
- Green Course, Israel
- Growthwatch, India
- Harijan Sevak Sangh, India
- Himalaya Niti Abhiyan, Nepal
- Human Rights Commission of Pakistan
- Human Rights Law Network, India
- INSAF (Indian Social Action Forum), India
- International Accountability Project (IAP), United States
- ISDE Bangladesh
- Jamaa Resource Initiatives, Kenya
- Japan Center for Sustainable Environment and Society (JACSES), Japan
- Jatiyo Sramik Jote, Bangladesh
- Karavali Karnataka Janabhivridhi Vedike, India
- Kendrio Krishak Maitree (KKM), Bangladesh
- KRuHA (People's Coalition for the Right to Water), Indonesia
- Legal Rights and Natural Resources Center - Kasama sa Kalikasan (LRC-KsK), Philippines
- Life and Nature Safeguard Platform (LNSP), Bangladesh
- LEDARS, Bangladesh
- Manthan Law, India
- Market Forces, Australia
- MAUSAM Trust, India
- Nagorik Sanghati, Bangladesh
- Nagorik Uddyog, Bangladesh
- National Development Programme (NDP), Bangladesh
- NGO Forum on ADB, Philippines
- Noakhali Rural Development Society (NRDS), Bangladesh
- Oil Change International, United States
- OnePeople International, Sweden
- Online Knowledge Society (OKS), Bangladesh
- Oxfam, Bangladesh
- Oyu Tolgoi Watch, Mongolia
- Paani Committee, Bangladesh
- Pakistan Kissan Rabita Committee, Pakistan
- Pakistan Fisherfolk Forum (PFF), Pakistan
- Paribartan - Rajshahi, Bangladesh
- Participatory Research and Action Network (PRAN), Bangladesh
- People’s Forum for Food Sovereignty, Mongolia
- Prantojon Trust, Bangladesh
- Progoti, Bangladesh
- Progressive Plantation Workers Union (PPWU), India
- Public Services International (National Coordinating Committee), Bangladesh
- Recourse, Netherlands
- Rivers without Boundaries Coalition, Mongolia
- Right to Food Campaign - West Bengal, India
- Rural Advancement Society (RAS), Bangladesh
- Rural Community Development Society (RCDS), Bangladesh
- Safety and Rights Society (SRS), Dhaka, Bangladesh
- Saher Welfare Foundation, Pakistan.
- Samaj Progoti Sangstha (SPS), Bangladesh
- Serikat Nelayan (Indonesia Fisherfolk Union), Indonesia
- Socialist Workers Association, Thailand
- Society for Environment and Human Development (SEHD), Bangladesh
- Society for Participatory Empowerment for Development (SPED), Bangladesh
- Songshoptaque, Bangladesh
- SPEED Trust, Bangladesh
- Sri Lanka All Telecommunication Employees Union, Sri Lanka
- Stiftung Asienhaus, Germany
- Suluh Muda Indonesia
- Telecommunication Engineering Diplomates Association, India
- Urgewald, Germany
- Uttaran, Bangladesh
- Verein für sozial-ökologischen Wandel, Germany
- VOICE, Bangladesh
- Women Action Towards Economic Development (WATED), Thailand
- Women Association for Training and Service (WATS), Nepal
- Women’s Employment Supporting Federation, Mongolia