Politics: 300 parliamentarians in the world ask for the cancellation of the debt of the poor countries

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Le sénateur américain Bernie Sanders est à l'origine de cette initiative rassemblant 300 parlementaires dans le monde pour exiger l'annulation de la dette. © REUTERS / Lucas Jackson The American senator Bernie Sanders is at the origin of this initiative gathering 300 parliamentarians in the world to demand the cancellation of the debt .

Faced with the potential economic consequences of the new coronavirus pandemic, it is not enough to suspend the debt of poor countries, it must be canceled. This is what 300 parliamentarians from twenty countries are asking for.

Canceling debt is the least that the World Bank, the International Monetary Fund and other international financial institutions can do, say parliamentarians led by US Senator Bernie Sanders and Democratic Representative Ilhan Omar. Among the signatories are also former Labor leader Jeremy Corbyn and the former President of Argentina, Carlos Menem.

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Certainly, say the signatories, the G20 decided last April to suspend the debt of the poorest countries. But the goal is to prevent an unimaginable increase in poverty, hunger and disease that threatens hundreds of millions of people. The debt repayment must therefore be completely canceled instead of simply being suspended. And to do this, say the signatories, we must increase the resources of the World Bank and the IMF

Cancel the debt of the poorest countries on the planet, France supports this initiative. But many creditors refuse to do so. Like the World Bank, for which such a decision would damage its reputation as a lender and weaken its capacity for action in the future.

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