Why pay an illegitimate foreign debt?
The foreign debt is illegitimate because of: the conditions under which the credits were contracted, the corruption and shady deals, the arbitrariness and speculation on financial markets, the irresponsibility of the creditors, the social and environmental destruction that this generates. More over, the foreign debt has all ready been paid, not only with financial flows for the payment of interest – we have paid twice amount – but with the constant flow of energy, natural goods, and cheap manpower at the cost of social and environmental destruction. Therefore we support the international campaign of the Latin American and Caribbean Coalition, JUBILEE 2000. We also support the national and continental campaigns for the NON PAYMENT OF THE FOREIGN DEBT AND THE CLAIMING OF THE SOCIAL AND ECOLOGICAL DEBTS. We congratulate, and exhort, the Ecuadorian National Government to stand firm in its position of not paying the Brady Bonds, not simply due to the impossibility of doing so, but due to th
Related Questions
- I want to make a booking online and to pay in foreign currency using my credit card. How will the foreign exchange rate be applied to my booking?
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