CSOs Call to International Creditors of Bangladesh: Suspend Realizing Debt Installments during COVID-19 Distress

                 

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
  1. 350.org, Asia
  2. Aamra - Ek Sachetan Prayas, India
  3. Actionaid Bangladesh
  4. ADAB, Bangladesh
  5. Akhil Bhartiya Prakritik Chikitsha Parishad, India
  6. All Employees Union of Information and Telecommunication, India
  7. AOSED - An Organization for Socio-Economic Development, Bangladesh
  8. Apon Foundation, Bangladesh
  9. Asian Peoples Movement on Debt and Development (APMDD)
  10. ATTAC Japan
  11. Bandhan, Bangladesh
  12. Bangladesh Environmental Lawyers Association (BELA), Bangladesh
  13. Bangladesh Krishak Federation (BKF), Bangladesh
  14. Bangladesh NGO Network for Radio Communication (BNNRC), Bangladesh
  15. Bangladesh Working Group on External Debt (BWGED), Bangladesh
  16. Beyond Copenhagen Collective, India
  17. BINDU (Best Initiative National Development Unification), Bangladesh
  18. BRICS Feminist Watch, BRICS Countries
  19. Buriganga Banchao Andolan, Bangladesh
  20. Campaign for Good Governance (SUPRO), Bangladesh
  21. Campaign for Sustainable Rural Livelihoods (CSRL), Bangladesh
  22. Center for Energy, Ecology and Development (CEED), Philippines
  23. Center for Environment and Participatory Research (CEPR), Bangladesh
  24. Centre for Bangladesh Studies (CBS), Bangladesh
  25. Centre for Environmental Justice (CEJ), Sri Lanka
  26. Centre for Financial Accountability (CFA), India
  27. Centre for Human Rights and Development (CHRD), Mongolia
  28. Change Initiative, Bangladesh
  29. Christian Aid, Bangladesh
  30. Civil Society Women Organization (CSWO), India
  31. CLEAN (Coastal Livelihood and Environmental Action Network), Bangladesh
  32. Climate Watch Thailand
  33. Coalition for Human Rights in Development (CHRD), United States
  34. COAST Trust, Bangladesh
  35. Collective for Economic Justice, India
  36. Committee for the Abolition of Illegitimate Debt (CADTM), India
  37. Committee for the Abolition of Illegitimate Debt (CADTM), International
  38. Committee for the Abolition of Illegitimate Debt (CADTM), Pakistan
  39. CoreCarbonX, India
  40. Corporate Accountability, United States
  41. CSOs Network on SDGs, Mongolia
  42. Development Observer NGO Coalition, Mongolia 
  43. Development Synergy Institute (DSI), Bangladesh
  44. Digo Bikas Institute, Nepal
  45. Environics Trust, India
  46. Equitable Cambodia
  47. Equity and Justice Working Group - Bangladesh (EquityBD)
  48. Eurodad (European Network on Debt and Development), Belgium
  49. Europe solidaire sans frontières (ESSF), France
  50. Focus on the Global South, Thailand
  51. Food Security Network (KHANI), Bangladesh
  52. Fresh Eyes, United Kingdom
  53. Friends of the Earth, United States
  54. Gandhi Ashram Trust, Bangladesh
  55. Gandhi International Mission, India
  56. Green Advocates International, Liberia
  57. Green Course, Israel
  58. Growthwatch, India
  59. Harijan Sevak Sangh, India
  60. Himalaya Niti Abhiyan, Nepal
  61. Human Rights Commission of Pakistan
  62. Human Rights Law Network, India
  63. INSAF (Indian Social Action Forum), India
  64. International Accountability Project (IAP), United States
  65. ISDE Bangladesh
  66. Jamaa Resource Initiatives, Kenya
  67. Japan Center for Sustainable Environment and Society (JACSES), Japan
  68. Jatiyo Sramik Jote, Bangladesh
  69. Karavali Karnataka Janabhivridhi Vedike, India
  70. Kendrio Krishak Maitree (KKM), Bangladesh
  71. KRuHA (People's Coalition for the Right to Water), Indonesia
  72. Legal Rights and Natural Resources Center - Kasama sa Kalikasan (LRC-KsK), Philippines
  73. Life and Nature Safeguard Platform (LNSP), Bangladesh
  74. LEDARS, Bangladesh
  75. Manthan Law, India
  76. Market Forces, Australia
  77. MAUSAM Trust, India
  78. Nagorik Sanghati, Bangladesh
  79. Nagorik Uddyog, Bangladesh
  80. National Development Programme (NDP), Bangladesh
  81. NGO Forum on ADB, Philippines
  82. Noakhali Rural Development Society (NRDS), Bangladesh
  83. Oil Change International, United States
  84. OnePeople International, Sweden
  85. Online Knowledge Society (OKS), Bangladesh
  86. Oxfam, Bangladesh
  87. Oyu Tolgoi Watch, Mongolia
  88. Paani Committee, Bangladesh
  89. Pakistan Kissan Rabita Committee, Pakistan
  90. Pakistan Fisherfolk Forum (PFF), Pakistan
  91. Paribartan - Rajshahi, Bangladesh
  92. Participatory Research and Action Network (PRAN), Bangladesh
  93. People’s Forum for Food Sovereignty, Mongolia
  94. Prantojon Trust, Bangladesh
  95. Progoti, Bangladesh
  96. Progressive Plantation Workers Union (PPWU), India
  97. Public Services International (National Coordinating Committee), Bangladesh
  98. Recourse, Netherlands
  99. Rivers without Boundaries Coalition, Mongolia
  100. Right to Food Campaign - West Bengal, India
  101. Rural Advancement Society (RAS), Bangladesh
  102. Rural Community Development Society (RCDS), Bangladesh
  103. Safety and Rights Society (SRS), Dhaka, Bangladesh
  104. Saher Welfare Foundation, Pakistan.
  105. Samaj Progoti Sangstha (SPS), Bangladesh
  106. Serikat Nelayan (Indonesia Fisherfolk Union), Indonesia
  107. Socialist Workers Association, Thailand
  108. Society for Environment and Human Development (SEHD), Bangladesh
  109. Society for Participatory Empowerment for Development (SPED), Bangladesh
  110. Songshoptaque, Bangladesh
  111. SPEED Trust, Bangladesh
  112. Sri Lanka All Telecommunication Employees Union, Sri Lanka
  113. Stiftung Asienhaus, Germany
  114. Suluh Muda Indonesia
  115. Telecommunication Engineering Diplomates Association, India
  116. Urgewald, Germany
  117. Uttaran, Bangladesh
  118. Verein für sozial-ökologischen Wandel, Germany
  119. VOICE, Bangladesh
  120. Women Action Towards Economic Development (WATED), Thailand
  121. Women Association for Training and Service (WATS), Nepal
  122. Women’s Employment Supporting Federation, Mongolia