Civil society urges South Africa's G20 presidency to take "far stronger" position on debt reform
164 civil society organisations have written to the South African Presidency of the G20 critiquing the "lack of demonstrable progress" on debt and urging them to take action on debt reform.
The open letter, addressed to President Ramaphosa, calls for South Africa to take a "far stronger" position on the debt crisis facing Africa and many other countries worldwide. Specifically the co-signing organisations encourage the Presidency to:
- Start, support and constructively participate in the intergovernmental process at the UN towards recommendations for a debt architecture reform, as agreed at the 4th Financing for Development Conference (FfD4). In this sense we are calling for a UN Framework Convention on sovereign debt that encompasses all the reforms needed to build a new debt architecture that centers human rights and equity; one that explicitly aligns debt processes with states’ obligations, prohibits austerity measures that undermine essential services and rights realization, binds private creditors to human rights standards, and delivers on a global mechanism for fair and transparent restructurings under UN auspices.
- Radical reform to debt restructuring processes, considering lessons learned from the Common Framework and other debt restructuring processes, as called for by African Heads of State and Finance Ministers. Reforms must deliver far deeper and faster debt relief, introduce a timebound aspect, establish a universally accepted methodology for comparability of treatment, suspending debt servicing for all borrowers embarking on a debt restructuring with no accumulation of arrears, during the whole debt restructuring process, and establish a legal mechanism for enforcement purposes.
- A declaration from the Finance Ministers that explicitly supports the establishment of an African Credit Rating Agency, and an international, accessible and public Global debt registry, including details on all external sovereign loans, bonds and other debt instruments as well as details on debt workouts.
- Support the establishment of a Borrowers Club, as agreed at the FfD4 Conference, that will facilitate cooperation among debtor countries to share information, improve transparency and strengthen negotiation positions. This club would serve as a counterweight to creditor groupings like the Paris Club and the London Coalition to improve the institutional efficiency of the global debt architecture.
- The development of binding principles of responsible lending and borrowing, as well as debt sustainability analyses, aligned with developmental goals and designed to enhance countries’ capacity to respect their human rights and climate obligations.
- Agreement on the sale of IMF gold reserves to finance a debt relief fund.
- Acknowledgment of the debt and development crisis, and the urgent need for debt relief that protects essential social spending on education, health, gender equality and climate resilience. Civil Society is calling for the cancellation of all unsustainable and illegitimate debts, from all creditors.
Global and regional networks
1. ActionAid International
2. African Forum and Network on Debt and Development – AFRODAD
3. Amnesty International
4. Arab NGO Network for Development (ANND)
5. Asia Development Alliance
6. Caribbean Policy Development Centre - Barbados, Caribbean
7. C20
8. Fe y Alegría Internacional - Colombia/Global
9. Center for Economic and Social Rights (CESR)
10. Christian Aid
11. Climate Action Network – CAN International 12. ESCR - Net (Economic Policy WG)
13. European Network on Debt and Development – Eurodad
14. Hungry for Action
15. International Institute for Environment and Development
16. Global Campaign for Education (GCE)
17. Global Policy Forum Europe
18. Malala Fund
19. MenaFem Movement for Economic, Development And Ecological Justice
20. Partners In Health
21. Recourse
22. Red Latinoamericana por Justicia Económica y Social – LATINDADD
23. Resilient40 (Africa)
24. The African Youth Café
25. Third World Network
26. Women's Working Group on Financing for Development
Africa
27. We, The World Botswana - Botswana
28. Africa Development Interchange Network (ADIN) - Cameroon
29. CADIRE CAMEROON ASSOCIATION - CAMEROON
30. Youth for Promotion of Development - Cameroon
31. Ini - Chad
32. Mouvement pour la Réforme Sociale (MORESO) - Congo, Démocratic Republic of
33. Plateforme pour le Développement Économique Social et Culturel (PDESC - CI) - Côte d’Ivoire
34. ASSOCIATION DE DÉVELOPPEMENT AGRICOLE ÉDUCATIF ET SANITAIRE DE MANONO - Democratic Republic of Congo
35. CLIMATE CHANGE AFRICA OPPORTUNITIES - CCAO - Democratic Republic of Congo/AFRICA
36. Pain aux Indigents et Appui à l'auto - Promotion – DRC
37. Ethiopian Orthodox Church Development and inter Church Aid commission - Ethiopia
38. AbibiNsroma Foundation - Ghana
39. Ghana Co - operative Agricultural Producers and Marketing Association Limited – Ghana
40. Network for Women's Rights in Ghana (NETRIGHT) - Ghana
41. EDER (Environnement, Développement et Énergies Renouvelables) - Guinée
42. Barwaqa relief organization – Kenya
43. COMMUNITY ACTION FOR HEALTH AND DEVELOPMENT - Kenya
44. Emonyo Yefwe International - Kenya
45. Jamaa Resource Initiatives - Kenya
46. Jumuiya Women fund - Kenya
47. LAND ACTION NETWORK - LAN KENYA - KENYA
48. Polifa – Kenya
49. The Peacemaker Corps Foundation – Kenya
50. Green Advocates International - Liberia
51. The Initiative for Climate Action and Development (ICAD Southern Africa) - Malawi
52. CGT/MAROC - MAROC
53. Association Nigerienne des Scouts de l'Environnement (ANSEN) - Niger
54. Africa Network for Environment and Economic Justice (ANEEJ) – Nigeria
55. Nigeria Network of NGOs - Nigeria
56. Quest For Growth and Development Foundation – Nigeria
57. Académie catholique de Brazzaville pour l'Ethique - République du Congo
58. ALPD - Senegal
59. Lumière Synergie pour le Développement (LSD) - Senegal
60. ActionAid South Africa - South Africa
61. Africa Centre for Governance - Southern Africa
62. Alternative Information & Development Centre (AIDC) - South Africa
63. AlternativeFutures - South Africa
64. Carolina Eco - Green Economy (Mpumalanga) - South Africa
65. Ensure Viable Environment (EVE) - South Africa
66. For the Youth by the Youth - South Africa
67. GlobalYou Africa - South Africa
68. Goringhaiqona - South Africa
69. Institute for Economic Justice - South Africa
70. ISIZIBA Community Based Organizations of South Africa - South Africa
71. His Choice Ministries - South Africa
72. Justice & Please Catholic Church - South Africa
73. Lwana - South Africa
74. NEDLAC Community Constituency - South Africa
75. Oxfam South Africa - South Africa
76. Qunu Advice Office - South Africa
77. SAIIA - South Africa
78. SANAC CSF - South Africa
79. Show Me Your Number - South Africa
80. South African Women in Dialogue - South Africa
81. UNEARTHED JUSTICE: YOUTH - LED ADVOCACY PLATFORM - SOUTH AFRICA
82. VPCR - South Africa
83. Working for climate - South Africa
84. WRCA - South Africa
85. Youth Arise - South Africa
86. Youth Capital - South Africa
87. Akina Mama wa Afrika - Uganda
88. DISABILITY PEOPLES FORUM UGANDA - UGANDA
89. Future Link Junior School - Uganda
90. Makerere University Business School - Uganda
91. Uganda Debt Network - Uganda
92. Uganda Peace Foundation - Uganda
93. Women's International Peace Centre - Uganda
94. Friends with Environment in Development – Uganda
95. Southern and Eastern African Trade Information Negotiations Institute (SEATINI) - Uganda
96. CITIZENS NETWORK FOR COMMUNITY DEVELOPMENT ZAMBIA - Zambia
97. Climate Action Network (CAN) Zambia - Zambia
98. Jesuit Centre for Theological Reflection - Zambia
99. CLIMATE ACTION NETWORK ZIMBABWE - Zimbabwe
100. Food Justice Network – Zimbabwe
101. Let's Green The Future Trust - Zimbabwe
102. Southern Africa Region Climate Action Network - Zimbabwe
103. Sprout WomenEmpowerment Trust - Zimbabwe
104. Zimbabwe Coalition on Debt and Development (ZIMCODD) - ZIMBABWE
105. Zimbabwe People’s Land Rights Movement - Zimbabwe
106. Women of Africa - Zimbabwe
Asia and the Pacific
107. Aid Organization - Bangladesh
108. LUCCC - Bangladesh
109. Association For Promotion Sustainable Development - India
110. HRC Right To Information Trust - India
111. VANI - India
112. Vajpayee Research Foundation - India
113. International NGO Forum on Indonesian Development (INFID) - Indonesia
114. Forum for Global Solidarity Tax - Japan
115. Japan NGO Center for International Cooperation (JANIC) - Japan
116. All Nepal Peasants Federation, Nepal - Nepal
117. National Labour Academy - Nepal
118. Rural Area Development Programme (RADP) - Nepal
119. Food Sovereignty and Climate Justice Forum, Nepal - Nepal
120. Freedom from Debt Coalition - Philippines
121. Korean Advocates for Global Health (KAGH) - Republic of Korea
122. Free Trade Union Development Centre - Sri Lanka
Latin America and the Caribbean
123. Fundacion para Estudio e Investigacion de la Mujer - Argentina
124. Candid Concepts Development - Bahamas
125. Instituto Popular de Capacitación IPC - Colombia
126. Comisión Nacional de Enlace CNE - Costa Rica
127. Religiosa de NSCBP - Costa Rica
128. Centro de Documentación en Derechos Humanos "Segundo Montes Mozo SJ" (CSMM) - Ecuador
129. Observatorio de la Dolarización - Ecuador
130. Observatorio de Finanzas y Clima - Ecuador
131. Movimiento Tzuk Kim - pop - Guatemala
132. Inicitivas para el Desarrollo de la Mujer Oaxqueña (IDEMO)M) - México
133. RENICC - Nicargua
134. Centro de Políticas Públicas y Derechos Humanos (Perú EQUIDAD) – Perú
135. GRUPO NACIONAL DE PRESUPUESTO PUBLICO - Perú
136. Stichting Projekta - Suriname
Europe
137. Global Responsibility – Austria
138. KOO - Co - ordination office of the Austirans Bisops' Confernce - Austria
139. Alefa Diaspora - Belgium
140. CNCD - 11.11.11 - Belgium
141. Justice et Paix France - France
142. erlassjahr.de - Entwicklung braucht Entschuldung - Germany
143. Foundations Platform F20 - Germany
144. German NGO Forum on Environment & Development – Germany
145. WEED - World Economy, Ecology & Development - Germany / Europe
146. Financial Justice Ireland - Ireland
147. Norwegian Church Aid - Norway
148. Portuguese Platform of Development NGOs – Portugal
149. XR Serbia - Serbia
150. Act Church of Sweden – Sweden
151. Alliance Sud - Switzerland
152. Bond - United Kingdom
153. CAFOD - United Kingdom
154. Climate Action Network UK (CAN - UK) - United Kingdom
155. Debt Justice UK - United Kingdom
156. Debt Relief International – United Kingdom
North America
157. Cooperation Canada - Canada
158. KAIROS: Canadian Ecumenical Justice Initiatives - Canada
159. Defined Impact Group – U.S.
160. EcoEquity - U.S.
161. Institute of the Blessed Virgin Mary - Loreto Generalate - U.S.
162. The Society for Children Orphaned By AIDS Inc. (SOCOBA) - U.S.
163. Treatment Action Group – U.S.
164. WEDO - U.S.