Coming soon - Get a detailed view of why an account is flagged as spam!
view details

This post has been de-listed

It is no longer included in search results and normal feeds (front page, hot posts, subreddit posts, etc). It remains visible only via the author's post history.

13
80-year IMF and World Bank to be Indicted by International Peoples' Tribunal
Post Flair (click to view more posts with a particular flair)
Author Summary
Muted-Incident-3970 is age 80
Post Body

An ā€œInternational Peoplesā€™ Tribunal Vs. The International Monetary Fund and The World Bankā€ (IPT) - the first of its kind to be hosted and launched in the Philippines - will be held on Saturday, October 26, at the UP Film Center in Quezon City to indict the two leading financial institutions for violations of human rights and environmental standards over their 80-year existence.

The Asian Peoplesā€™ Movement on Debt and Development organized the IPT together with 30 international groups, including those from Asia, Africa and Latin America. They called the gathering a "historic moment" for social justice movements to "charge and prosecute the two institutions for the economic and social harm they have inflicted on countries and communities across the Global South."

APMDD coordinator Lidy Nacpil said: "For decades, the IMF and World Bank have hidden behind their deceiving faƧade of development and poverty alleviation. But in reality, their policies have deepened inequality, fostered corruption, and prioritized the interests of wealthy nations over the needs of vulnerable communities. This tribunal provides a space to speak truth to power, especially for grassroots and ordinary working people who are often denied access to justice in formal legal systems and processes.ā€

She added that in the face of multiple crises of inequality, debt, and climate change, the Tribunal represents a bold attempt to shine a light on the IMF and the World Bank and the adverse impacts of their programs and policies on communities and the environment. ā€œIt is a call for justice, for reparations, and demanding a new model of developmentā€”one that centers on people and the planet, not profits,ā€ Nacpil said.

Atty. Luke Espiritu, one of the Tribunalā€™s prosecutors, stressed: "This is more than just pointing fingers at the IMF and World Bank. Itā€™s about holding them accountable and demanding reparations. The deception is glaring in the way they proclaim their mission to eradicate poverty while pursuing failed measures such as pushing more loans as the solution to crises, including the crisis of climate which developing countries did not cause.ā€

The IMF and the World Bank are being charged with accountabilities for the following:

Accumulation of unsustainable and illegitimate debts. The institutions have created a system of unsustainable debt, forcing countries in the Global South to prioritize loan repayments over social welfare, leaving many in deep poverty.

Loan conditionalities that compel borrowing government to slash public spending for essential services

Climate chaos and destruction through continued fossil fuel lending and support for fossil fuel projects

Widespread hunger through economic conditionalities that weaken food systems and undermine production of food staples

Exploitation of womenā€™s care labor and violation of womenā€™s rights.

The tribunal will be presided over by an International Panel of Judges composed of distinguished and respected economists, lawyers and academicians. These include Filipino lawyer and climate law professor Tony La Vina; Stanford University lecturer Kumi Naidoo; Prof. CP Chandrasekhar of Jawaharlal Nehru University, India; former Malaysia member of Parliament Charles Santiago; Prof. Fadhel Kaboub, senior adviser of Power Shift Africa; Society for International Development senior advisor Manuel Montes; Third World Network Director Chee Yoke Ling; Prof. Anuradha Chenoy of Jindal Global University, India; and Law and Society Trust (Sri Lanka) Executive Director Sakuntala Kadirgamar.

The Tribunalā€™s first session in Manila will be followed by sessions in Nepal, India, Africa and Latin America. The final verdict will be passed in April 2025.

Author
Account Strength
60%
Account Age
3 years
Verified Email
Yes
Verified Flair
No
Total Karma
23
Link Karma
22
Comment Karma
1
Profile updated: 2 hours ago

Subreddit

Post Details

Age
80
We try to extract some basic information from the post title. This is not always successful or accurate, please use your best judgement and compare these values to the post title and body for confirmation.
Posted
4 weeks ago