DON'T OWE WON'T PAY! - Eliminate All Illegitimate and Odious Debts


Eliminate All Illegitimate and Odious Debts
- Be they for weapons, palaces, or useless power plants.

  • Why are the people in the Philippines expected to repay debt incurred by the greed of the former president Marcos,who is estimated to have fled into exile with some US$5 to US$13 billion in 1986.

  • Why should the people in the Democratic Republic of the Congo (formerly Zaire) be expected to repay over US$13 billion stolen by the dictator Mobutu.

  • Why are the people of Bolivia having to pay the US$3 billion contracted to the military junta by the World Bank and International Monetary Fund

SOME CASES OF ODIOUS DEBTS - SHOULD THE WORLD'S POOR HAVE TO REPAY THESE DEBTS?

Country Dictatorship Odious Debts US$ Billions
Indonesia Suharto 126
Brazil Military junta 100
Argentina Military junta 65
Philippines Marcos 40
Syria Assad 22
South Africa Apartheid 22
Pakistan Military 19
Sudan Nimeiry/al-Mahdi 17
Thailand Military 14
Nigeria Buhari/Abacha 14
Chile Pinochet 13
Zaire/DRC Mobutu 13
Algeria Military 5
Iran Shah 5
Kenya Moi 4
Ethiopia Mengistu 4
Bolivia Military junta 3
Somalia Siad Barre 2
Paraguay Stroessner 2
Malawi Banda 2
El Salvador Military junta 1
Liberia Doe 1
Haiti Duvalier 1

Source: Hanlon (2002:49)


FOCUS - ARTICLES ON ILLEGITIMATE DEBT
Jubilee South’s Response to the G8 Debt Proposal:
Justice Demands Unconditional and Total Debt Cancellation for All South Countries! click here
PDF
Don’t Owe, Shouldn’t Pay: Odious Debt, Illegitimate Debt, Unsustainable Debt – Who Owes Whom?
Want to know about Illegitimate click here

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