Archived -NEWS -- Aug 06 to May 08


Cork Training Days on the Injustice of Debt in the Global South
Cork Training Days on the Injustice of Debt in the Global South


Cork Training Days on the Injustice of Debt in the Global South

When?

  • Wednesday May 14th, 7pm to 9pm
  • Wednesday May 21st, 7pm to 9pm

Where?
  • Cois Tine, St Mary’s, Pope’s Quay, Cork [access via St Mary’s Church]

Why not take this great opportunity to get up to speed on the injustice of the debt problem in the Global South? This training course is divided into two sessions and will provide participants with a detailed understanding of the debt problem in the Global South, including a full update on the current situation and lots of ideas of what can be done from Ireland to tackle the problem. The course will equip participants to analyse responsibilities in the debt crisis, learn about the current focus of the global debt cancellation movement and discuss what activists in Ireland can do to tackle the problem.

Session 1: Will be a half-day training focusing on reviewing progress toward debt cancellation so far, and charting out the many unresolved issues in the current debt cancellation debate. Resource person: Nessa Ní Chasaide (Co-ordinator Debt and Development Coalition Ireland)

Session 2: Will be an evening discussion with Lidy Nacpil, the leading debt cancellation activist from the Philippines who has co-ordinated the debt cancellation movement across the Global South for many years. Lidy will provide her unique insights into the challenges facing Southern activists working on the debt issue and outline what kind of solidarity Southern activists are calling for from the rich world.

It is hoped that after both sessions, participants will feel confident in discussing the debt problem with others and inspired to continue their involvement with the issue.

Course Fee:

Members: €10; Non-members: €15; Unemployed / Asylum seekers: free

To book a place contact:

Laura: EIL, 021 455 1535,
Gerry / Angelo: SMAs 021 4557760,
Nessa: Debt and Development Coalition Ireland, ph: 01 8571828,


Galway Training Days on the Injustice of Debt in the Global South
Galway Training Days on the Injustice of Debt in the Global South


Galway Training Days on the Injustice of Debt in the Global South

When? & Where?

  • Saturday May 10th, 10.30am to 1pm (lunch provided)
    Harbour Hotel, New Docks Road, Galway City.
  • Tuesday May 20th, 7.30pm – 9.30pm
    Galway One World Centre, Bridge Mills, Dominick St., Galway City.

Why not take this great opportunity to get up to speed on the injustice of the debt problem in the Global South?

This training course is divided into two sessions and will provide participants with a detailed understanding of the debt problem in the Global South, including a full update on the current situation and lots of ideas of what can be done from Ireland to tackle the problem. The course will equip participants to analyse responsibilities in the debt crisis, learn about the current focus of the global debt cancellation movement and discuss what activists in Ireland can do to tackle the problem.

Session 1: Will be a half-day training focusing on reviewing progress toward debt cancellation so far, and charting out the many unresolved issues in the current debt cancellation debate. Resource person: Nessa Ní Chasaide (Co-ordinator Debt and Development Coalition Ireland)

Session 2: Will be an evening discussion with Lidy Nacpil, the leading debt cancellation activist from the Philippines who has co-ordinated the debt cancellation movement across the Global South for many years. Lidy will provide her unique insights into the challenges facing Southern activists working on the debt issue and outline what kind of solidarity Southern activists are calling for from the rich world.

It is hoped that after both sessions, participants will feel confident in discussing the debt problem with others and inspired to continue their involvement with the issue.

Course Fee:

DDCI / Galway OWC Members: €10; Non-members: €15; Unemployed / Asylum seekers: free

To book a place contact:

Heike: Galway One World Centre, ph: 091 530590,
Nessa: Debt and Development Coalition Ireland, ph: 01 8571828,


Dublin Learning Evening on the Injustice of Debt in the Global South
Dublin Training Days on the Injustice of Debt in the Global South


Dublin Learning Evening on the Injustice of Debt in the Global South

When?

  • Thursday May 22nd, 8pm

Where?

  • Teachers Club, 36 Parnell Square West, Dublin 1

Why not take this great opportunity to get up to speed on the injustice of the debt problem in the Global South?

This learning evening will provide participants with an improved understanding of the debt problem in the Global South, including a full update on the current situation and lots of ideas of what can be done from Ireland to tackle the problem. Discussion will focus on responsibilities in the debt crisis and the current focus of the global debt cancellation movement.

Resource people will include:

Lidy Nacpil, Co-ordinator, Jubilee South, leading debt cancellation activist from the Philippines who has co-ordinated the debt cancellation movement across the Global South for many years. Lidy will provide her unique insights into the challenges facing Southern activists working on the debt issue and outline what kind of solidarity Southern activists are calling for from the rich world.

Nessa Ní Chasaide, Co-ordinator, Debt and Development Coalition Ireland. Nessa will outline progress toward debt cancellation so far, the many remaining unresolved issues, and Ireland’s role in tackling the problem. It is hoped that after both sessions, participants will feel confident in discussing the debt problem with others and inspired to continue their involvement with the issue.

For more information Contact:

Nessa Ní Chasaide: Debt and Development Coalition Ireland, ph: 01 8571828,



Press Release: Saturday 26 January 2008


Irish campaigners called on world leaders at the Davos summit toput poor people first with a protest outside the Central Bank in Dublin on Saturday.

Released by: Africa Centre, Comhlámh, Christian Aid Ireland, Debt and Development Coalition Ireland, Latin America Solidarity Centre, Oxfam Ireland and Trócaire.

Irish NGOs Call on Davos Leaders to Put Poor People First

Today, Irish development organisations and campaign groups called on worldleaders to put the interests of people living in poverty at the heart of global policy making.

Marking the annual World Economic Forum being held this week in Davos Switzerland, campaigners staged a protest in front of the Central Bank in Dublin's city centre to highlight the effect of damaging global economic policies on people in the developing world.

"Powerful global actors are meeting in Davos. They have the power to take decisions that will end the exploitation of poor countries. The global economy has been structured to benefit rich countries and companies at the expense of the poor. We need to see a radical shift in the policies being pursued by these powerful governments and corporations," said Nina Sachau, Policy and Campaigns Officer, Comhlámh.

Today's protest is part of a Global Day of Action to mark the annual World Social Forum, which brings together environmental and social justice campaigners and activists from around the world. The World Social Forum is this year being marked by more than 430 events and protests in 85 countries across the globe highlighting the impact of profit driven globalisation on the poor coinciding with the World Economic Forum.

"Ireland plays a significant role in shaping global agreements which often favour business at the expense of ordinary people," said Dr. David McNair, Policy and Advocacy Officer for ChristianAid Ireland. "Trade agreements, such as the European Union-led Economic Partnership Agreements open up developing country markets without regard to the negative impact on jobs, livelihoods or public services," continued Mr.McNair.

Campaigners also criticised the Irish Government's support for international financial institutions which impose policies on poor countries and deepen poverty.

"Ireland is undermining the sovereignty of impoverished countries bysupporting the World Bank's practice of imposing economic policy conditions on poor countries. These economic policy recommendations have often had disastrous effects on impoverished countries around the world. Ireland should insist that the World Bank cease this outrageous practice immediately," said Nessa Ní Chasaide of Debt andDevelopment Coalition Ireland.

For more information contact:

Nessa Ní Chasaide,
Debt and Development Coalition Ireland,
ph: 087 7507001

Paul O'Mahony,
Comhlámh,
ph: 087 965 3877

Nina Sachau,
Comhlámh,
ph: 087 9590142

David McNair,
ChristianAid Ireland,
ph: 085 710 5897

 

 

Photos: Ignacio Irigoien


Campaigners Accuse Cowen of Hurting Poor Countries by Funding World Bank

Press Release
5th December 2007

Released by:
Debt and Development Coalition Ireland

Campaigners Accuse Cowen of Hurting Poor Countries by Funding World Bank

A national justice network, Debt and Development Coalition Ireland, has accused the Minister for Finance, Brian Cowen, of hurting poor countries through making a provision of Euro 90 million to the World Bank in the budget.

Nessa Ní Chasaide, co-ordinator of Debt and Development Coalition Ireland said, "We welcome that the Minister is living up to Ireland's overall international aid spending obligations, but he is hurting the world's poor by giving funding to the World Bank."

She continued, "By funding the World Bank, the Minister is undermining the quality of Ireland's aid programme. The World Bank hurts poor countries by attaching economic policy conditions to its aid. We call on Minister Cowen to re-route this €90 million to other aid mechanisms without economic conditions."

Photo: Ignacio Irigoien


Irish Campaigners Call on Minister Cowen to Stop Paying for Poverty

Press Release
Monday 12th November 2007

Released by:
Africa Centre, Comhlámh, Christian Aid Ireland, Debt and
Development Coalition Ireland, Latin America Solidarity Centre and Trócaire.

Irish Campaigners Call on Minister Cowen to Stop Paying for Poverty

As a major World Bank meeting kicks off in Dublin today, justice campaigners called on Finance Minister Brian Cowen to stop paying for poverty.

The World Bank meeting, being held in Malahide in Co. Dublin on Monday and Tuesday, will bring together the richest members of the World Bank to decide how much money to give to the International Development Association (IDA), the arm of the World Bank that lends to the poorest countries over the next three years.

Nina Sachau of Comhlamh commented, "By hosting this event, Ireland has a major opportunity to send a clear message to the World Bank that it must fundamentally change how it does business. It is unacceptable that the World Bank gives money to poor countries with one hand, but takes it away with the other through imposing what are often very damaging economic policy conditions."

Joanne Mc Garry of Trócaire added, "We are calling on Minister Brian Cowen, as Ireland's representative to the World Bank, to stop paying for poverty and to withhold Ireland's aid from this round of negotiations at the World Bank unless the Bank ends the unacceptable practice of attaching economic conditions to its aid. Minister Cowen should instead channel this funding through other aid mechanisms that do not impose the same unreasonable demands on recipient countries."

The World Bank's practice of linking conditions to its loans and aid, means that when an aid package is agreed between the World Bank and a developing country, the bank includes a set of policy recommendations as conditions that are often legally required by the Bank before they will disburse funding. These economic policy recommendations have often had highly damaging effects on impoverished countries around the world.

Nessa Ní Chasaide of Debt and Development Coalition Ireland said, "Ireland has a comparatively good reputation internationally for delivering on our overseas aid spending obligations, and for supporting debt cancellation for poor countries. We are calling on Minister Cowen to stand up for the quality of Ireland's aid programme by ensuring an end to economic conditionality at the World Bank. This is a moral imperative if Ireland's commitment to ending global poverty and inequality is to be taken seriously."


Futher INformation: The World Bank has caused massive damage to the already suffering economies of developing countries. For example, in Mali, the World Bank and International Monetary Fund (IMF) made their aid conditional on the privatisation of the electricity sector and the liberalisation and privatisation of the cotton sector. Liberalisation of the cotton sector has caused three million Malian farmers to endure a 20 per cent drop in the price they received for their cotton in 2005. This is disastrous as 90% of Malians live on less than US$ 2 per day.

Even so, the World Bank ensured the withholding of aid from Mali on the grounds of its failure to privatise its cotton industry. To add insult to injury, private ownership of the Malian electricity company has resulted in minimal improvement in electricity coverage and spiralling of costs for poor people in Mali.

A recent study by the European Network on Debt and Development of recent World Bank lending to the poorest countries shows that while the overall application of World Bank conditionality is falling, economic policy conditions, especially in areas related to privatisation and liberalisation, still make up one quarter of all conditions applied by the Bank.

See www.eurodad.org for the report entitled 'Untying the Knots: How the World Bank is failing to deliver real change on conditionality'.

Photo: Ignacio Irigoien



Illegitimate Debt Claims of the G7

If the Group of Seven (G7) nations are serious about cleaning up corruption and promoting good governance and transparency, they should look to the past.

A damning new NGO report presenting case studies of past loans made by the Group of Seven nations (Canada, France, Germany, Japan, Italy, the U.K. and the U.S.), reveals that some loans are not legitimate and that the lenders are at fault.

Click here "Skeletons in the Cupboard: Illegitimate Debt Claims of the G7" PDF (0.92mb)

Historic breakthrough on debt crisis.


Ecuador Launches Historic Debt Audit Commission - 2007-07-27

On 23 July, in Guayaquil Ecuador, the Ecuadorian Ministry of Economy and Finance launched the world's first debt audit commission to have the full support and involvement of the government.

Read more


Vulture's wings clipped by judgment, April 2007.


The vulture fund targeting Zambia has been told it will get around $15.5 million - far short of the $55 million it was claiming, but still a huge sum for a country where 80% of people live on less than $1 a day.

Read more


Make good on the MDG's promise

UK Prime Minister Gordan Brown in a speech at the UN (31'07'07 on global poverty said the Millennium Development Goals were "a million miles" from being met. "To address the worst of poverty, we need to summon up the best of humanity, and I want to summon into existence a great coalition of conscience in pursuit of the greatest of causes.
http://news.bbc.co.uk

Action Alert: Campaigners calls on the Irish government to make good on the
Millennium Development Goals promise

Get involved here


DDCI - Press Release - 18/05/07


WOLFOWITZ LATE RESIGNATION MERELY SRATCHES SURFACE OF NEED FOR REFORM

Irish anti-poverty campaigners, alongside campaigners from around the world, have said the forthcoming resignation of World Bank president, Paul Wolfowitz, is inadequate and that the Bank is in far deeper need of reform.

Read more

DDCI - Press Release - 17/05/07


IRISH CAMPAIGNERS DISMAYED AT IRELAND'S ROLE IN WOLFOWITZ CRISIS

Irish campaigners have expressed dismay that the Canadian chair of the group in which Ireland is represented at the World Bank appears to be supporting Paul Wolfowitz in the current crisis surrounding his leadership role at the World Bank.


Read more

Wolfowitz undermining fight against poverty

Failure of World Bank President, Paul Wolfowitz, to resign as president of the World Bank is making a mockery of the international fight against poverty and inequality.

Read more
Report from WB/IMF Spring Meetings

Co-ordinator of Debt and Development Coalition Ireland, Nessa Ní Chasaide, travelled to Washington to participate in planning meetings with activists from around the world on World Bank and IMF issues.

Read Nessa Ní Chasaide report

April 15th - WB/IMF Spring Meetings

Failure to Sack Wolfowitz A Betrayal of the Poor

The World Bank's failure to take a stand on whether its President Paul Wolfowitz should be forced to leave his post has further eroded the credibility of the Bank as an organisation that is meant to serve the needs of impoverished people.

Read more

Saturday April 14th '07 - WB/IMF Spring Meetings

Activists Say Wolfowitz Scandal Exposes Urgent Need for World Bank Reform

Nessa Ní Chasaide, co-ordinator of Debt and Development Coalition Ireland commented from Washington, “The personal scandal surrounding Wolfowitz highlights the urgent need to address the deep lack of integrity of the World Bank as a development institution. We call on the Irish government to demand the immediate resignation of Wolfowitz and to seriously tackle the fundamental inequalities and lack of democracy at the World Bank”.

Read more


Stop the Vultures Undermining Debt Cancellation in Zambia


OUTRAGE AS VULTURE FUND SWOOPS ON ZAMBIAN FINANCIAL RESOURCES

Debt cancellation campaigning groups expressed outrage as a UK High Court ordered the Zambian government to pay a U.S. based debt collecting company, or so-called "Vulture Fund", Donegal International.

Donegal international a '"vulture" fund seeking more than US$55m (EUR42m) from Zambia had its wings clipped in the UK High Court on 24th April 2007 by the judge who limited its claim to US$15.5m (approx EUR11m) and cut its award of costs because of its "dishonesty". The judge rules that the 2003 agreement between Donegal International and Zambia was legal but that the ratcheting up of the original outstanding amount US$16m to US$55m was penal and struck it out. The judge repeatedly criticised Donegal owner Michael Sheehan and other witnesses Philip O'Rourke and Fisho Mwale, a former Mayor of Lusaka, for dishonesty.

While Debt Campaigners also cautiously welcomed the judgement that saw the Donegal's claim on Zambia reduced by $40m., they are now calling for immediate action by the upcoming G-8 summit meeting from 6-8 June 2007, in Germany, to address this legal but immoral action by greedy corporations like Donegal International. 'Vulture fund' companies are swooping in to buy poor countries' debt at hugely discounted prices, and then suing for the full amount plus interest and punitive damages. It's completely legal, and it's happening right now! Who's next Cameroon, Sierra Leone....

TAKE ACTION NOW - CLICK HERE


Read more background information here

LIBERIA'S DEBT CRISIS



Urgent Action Required

Should the Liberian People be forced to repay outstanding debt to the International Monetary Fund(IMF), World Bank and the African Development Bank?

Liberia is a country emerging frrom over twenty-five years of protracted civil conflict. War has devastated the country. Liberians enjoy a life expectancy of just 39-40 years (Ireland 88 years). 80% live below the poverty line (€1 a day) and there is 85% unemployment.

In October 2005, the country held its first democratic elections and Ellen Johnson-Saileaf was elected to power as Africa's first female Head of State. Liberia's President enjoys the popular support of both Liberians and the international community. Her government has stated its commitment to fight poverty and stamp-out corruption.

Several EU Member States are substantial creditors to Liberia
Germany
(US$ 232.2 mn), United Kingdom (US$77.4 mn), Italy (US$51mn), Denmark (US$17mn), France (US$16mn) Sweden (US$9mn) and Belgium (US$2.1mn).

One look at the figures reveals that the sums owed by Liberia to Germany and the United Kingdom (UK) are almost entirely of interest and penalties.

Example:
Liberia originally borrowed US$17.9mn from the UK, because of late payments and penalty charges, interest alone amounts to US$58.4mn. Liberia now owes a staggering US$77.4 mn to the UK Government.

Creditor Principal (mn) Interest (mn) Total (mn)
United Kingdom US$ 17.9 US$ 58.4 US$ 77.4
Germany US$117.0 US$115.1 US$232.2

Question.
How can EU Governments expect the ordinary Liberian citizen to repay these debt?
(especially when the country is only emerging from 25years of conflict and when over 85% of the population are unemployed).

At the moment EU Member States are proposing that Liberia enters the Heavily Indebted Poor Countries (HIPC) Initiative in order to qualify for debt cancellation. This will see Liberia's debt written-off at the very earliest in 2009 because Liberia must establish a track record of reforms with the International Monetary Fund (IMF) and World Bank.

IT GETS WORSE

Liberia cannot enter the HIPC Iniative process until its substancial arrears (again made up of penalties and interest charges) to the IMF, World Bank and African Development Bank are cleared. These stand at US$1.47bn. Liberia is plainly unable to pay, so what is the international community proposing to do?

EU governments (including Ireland!) and the United States are currently negotiating who will provide Liberia with new loans and grants in order to pay-off the substancial US$1.47bn arrears to the IMF and World Bank (institutions that profess to be about fighting poverty). This will allow Liberia to borrow from these institutions again.

This is not good enough. Debt and Development Coalition Ireland argues that the Liberian debt is unpayable, some of it is illegitimate and we join with debt campaigners around the world calling on European Governments, International Monetary Fund (IMF) World Bank and the African Development Bank to recognise the gravity of Liberia's social and economic situation and cancel the debts unconditionally and without delay.

We call on our Irish Ministers, Brian Cowen (Minster for Finance) Dermot Ahern (Minister for Foreign Affairs) and Conor Lenihan (Minster for Development Co-operation and Human Rights) to stand up for the Liberian people by calling on European Union member states, the World Bank and the IMF to cancel Liberia’s debts as a matter of urgency. This is in line with Ireland’s debt policy which supports 100% debt cancellation for the poorest countries in our world.

Don't forget, Ireland as United Nations Peacekeepers are presently serving in Liberia to bring about long term stability and peace to Liberia. This burden of debt could destabalise the country further.

Urgent Action Required
Act now and write to:

Minister Brian Cowen

Department of Finance, Government Building,
Upper Merrion Street,
Dublin 2

minister@finance.gov.ie
Minister Dermot Ahern

Department of Foreign Affairs, 80 St. Stephen's Green,
Dublin 2

minister@dfa.ie
Minister Conor Lenihan

Irish Aid,
Bishop's Square,
Redmond's Hill,
Dublin 2,

conor.lenihan@dfa.ie

Request our ministers to support the Liberian Government’s commitment to rebuild their nation and to fight poverty, through advocating that its EU member state colleagues, the World Bank, and IMF, cancel 100% of Liberia's debts immediately.

 


THE PARIS CLUB


Illegitimate and Odious Debt and The Paris Club

The debt crisis needs to be dealt with systematically. Prolonged restructuring of loans, that were often odious or illegitimate to start with, got consolidated and re-labelled, consequently they are now extremely difficult to track down to their real origin.

A permanent exit from the debt trap has been consistently and wilfully impeded by the manner in which the International Monetary Fund, World Bank and the Paris Club keep debtor countries like Senegal, Bolivia, Democratic Republic of Congo and Nicaragua, in a state of dependence and subordination.

The Paris Club, now 50 years in existence, is a cartel of official creditors (19 permanent members, including Ireland) whose role is to maximize overall returns on their loans. The Paris Club - a "non-institution", as it conveniently likes to call itself, is a blatant example of non-democratic rules and processes.
In the Paris Club the creditors act as judge and jury in their own case while debtor countries who are most affected by their decisions, are only permitted to play a passive role in the process.


Paris Club representatives claim they are not a development agency and therefore cannot deal with issues other than mere debt recovery. YET around the table can be found the official representatives of those very governments who have solemnly pledged to contribute to the achievement of the Millennium Development Goals by 2015.

The question is whether their decisions for debt restructuring /recovery are creating poverty or enhancing progress towards the elimination of poverty. While the latter is the desired outcome, the former is the reality.

We call for the governments represented in the Paris Club (including Ireland) to mark the 50 years by ending current practices and move decisively to a more just solution to the DEBT CRISIS.


ACTION
Debt and Development Coalition Ireland signed a EURODAD action on behalf of its members.
Read the text here


Nessa Ní Chasaide's report from the World Social Forum 2007, Nairobi, Kenya
20th - 25th Jan
Nairobi, Kenya

This year the World Social Forum brought the world to Africa as activists, social movements, networks, coalitions and other progressive forces from Asia-Pacific, Latin America, the Caribbean, North America, Europe and all corners of the African continent converged on Nairobi, Kenya for five days of cultural resistance and celebration. Consisting of panels, workshops, symposia, processions, film nights and much much more the social forum began on the 20th of January and wrapped up on the 25th of January 2007.

Debt & Development Coalition Ireland was represented by co-ordinator Nessa Ní Chasaide.

For Nessa Ní Chasaide's report from the World Social Forum 2007, along with a photo gallery click here


Civil Society Groups BANNED from attending World Bank and IMF meetings
Singapore and Indonesia

Repression in Singapore at the World Bank & IMF meeting....


The severe and repressive response of the Singaporean government to civil society participation at the World Bank IMF meetings was condemned by numerous NGO groups in September. The repression began before the official meetings started on the 14th Sept'06 and continued until the meetings concluded their business. 54 civil society activists have been either, banned, interrogated, deported or refused entry to Singapore.
17 of this group were detained and interrogated in Singapore and 12 of that number have been deported back to their countries by the Singapore authorities.

Read the postings from the events as they happened here

Debt Cancellation.


HIPC countries have to sell the rights to water in return for Debt cancellation.

As part of the conditionalities to be met before HIPEC countries qualify for debt relief, water privatisation is one of the most contentious. Is this forced dependency on the private sector who's sole motive is profit, the most appropriate means for delivering water to the world's poorest people?

Public utilities privatisation in developing countries is an ongoing disaster and the private sector is failing to deliver the investment necessary to meet international targets on water and sanitation according to a report by the World Development Movement (WDM) and Public Services International (PSI)

For more information download 'Pipe dreams: The failure of the private sector to invest in water services in developing countries' click here (279KB)

"Failing the Poor" Map of countries with water privatisation (952KB)

 





September 2007

Latest Newsletter
Newsletter Archive

Download reader to view and print Acrobat files
   


Debt and Development Coalition Ireland:
Unit F5, Spade Enterprise Centre, North King Street, Dublin 7.
Tel: + 353 1 6174835
Contact us: enquiries / information click here