Tag Archives: International Monetary Fund

‘Cancel the Debt’: Climate Protests Disrupt World Bank Summit

“The Global South must urgently adapt to the climate emergency so that it can protect its people from a crisis they did nothing to cause,” said Extinction Rebellion. “But it can’t do this while it remains heavily indebted.”

By Brett Wilkins Published 10-13-2022 by Common Dreams

Photo: CODEPINK/Twitter

A week of direct action targeting the annual meetings of the International Monetary Fund and World Bank Group continued in Washington, D.C. on Thursday as protesters interrupted regularly scheduled summit business to demand the financial institutions cancel Global South debt and stop fueling the climate crisis now.

Members of Glasgow Actions Team and other groups drowned out a Thursday afternoon press conference by leaders from Group of 20 nations by shouting, banging makeshift drums, blowing airhorns and vuvuzelas, and generally rousing a racket. Continue reading →

1 in 3 of World’s Poorest Countries Spend More on Debt Repayments Than Education

“There is clearly a moral imperative for the world to act now to ensure that all children are in school and learning,” says a new report from Save the Children. “But there is also an economic imperative.”

By Brett Wilkins Published 10-11-2022 by Common Dreams

School kids in northern Zimbabwe, Africa. Photo: Trey Ratcliff/flickr/CC

A report published this week by Save the Children revealed that 1 in 3 of the world’s poorest nations spend more on paying off debt to wealthy countries and investors than on educating its own children.

The U.K.-based charity’s report—entitled Fixing a Broken System: Transforming Education Financing—shows that 21 out of 70 low- and lower-middle-income countries with available data spent more on external debt repayment than on education in 2020. According to the publication, interest payments are expected to account for an average of 10% of the annual budget in this category of countries by 2024, up from 7% in 2015. Continue reading →

‘Insane and Pathological’: Head of Iran’s Central Bank Says US Blocking Covid-19 Vaccine Purchases

The Trump administration is allegedly using sanctions to thwart Iran’s efforts to obtain vaccine stock through the WHO’s COVAX program.

By Brett Wilkins, staff writer for Common Dreams. Published 12-7-2020

Coronavirus patients at the Imam Khomeini Hospital in Tehran, Iran in March 2020. Photo: Fars News Agency, CC BY 4.0

The head of Iran’s central bank on Monday accused the U.S. government of actively blocking the country from purchasing stocks of coronavirus vaccine through the World Health Organization’s COVAX program.

Al Jazeera reports Abdolnasser Hemmati said on Instagram that it should be “recorded in historical memory” that crippling U.S.-led sanctions against the Islamic Republic are preventing the country from buying vaccines against the potentially deadly virus through COVAX, the WHO-led global initiative to fast-track development, production, and equitable worldwide distribution of a coronavirus vaccine. Continue reading →

Occupy World Writes

The Movement Continues – Globally

Tag Archives: International Monetary Fund