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Oct 14 being marked as Anti-Debt Day for Pakistan

LAHORE – The Anti-Debt Campaigners in Pakistan on Sunday urged the governments and International Financial Institutions to cancel all foreign debts of Pakistan, owed to bilateral and multilateral creditors, besides an immediate freeze on foreign debt repayments of Pakistan.

They urged the lenders to extend Pakistan grants, rather than loans, which were essential for Pakistan to develop the means to withstand recent flood like disasters in future.They said it was vital that desperately needed emergency aid was not effectively swallowed up in debt repayments and a freeze on such payments must be called immediately.

Talking to the media here on Sunday the Campaign for Abolition of Third World Debt International member from Belgium Stephanie Jaqoumont, who is on Pakistan visit these days to show her solidarity with Pakistan Anti-Debt Campaigners, urged her government to cancel the loans of Pakistan.

She said that CADTM every year organizes an International Debt Week from Oct 7-17. Expressing solidarity with the Pakistani nation the committee this year has decided to mark Oct 14 as an Anti-Debt Day for Pakistan and suggested a slogan “Shout For Pakistan-Cancellation of Debt” in this regard.

She said Pakistan owes $34 million to Belgium as bilateral debt. While Belgium government response to Pakistan’s flood appeal is really poor, she said adding that it has pledged just $2.8 million. She demanded of her government to cancel Pakistan’s total debt in this hour of need, when 20 million flood-hit Pakistani people need this money to be spent on them.

She said that this is honour for Pakistani nation that a voice is being raised in favour of Pakistan and against the tyrannies of the international institutions all over the world.

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