International Conference on the Cancellation of Illegitimate Debts
Written by IBON, Jakarta Indonesia
Monday, 20 March 2006
It aims to bring together 100 participants from civil society organisations, social movements, government and creditor agency representatives for a discussion of the extent and impact of illegitimate debts and odious debts on the peoples of many southern countries.
The conference also aims to highlight the impact of dictatorship debts incurred by the dictators Marcos and Suharto, among the poor of the Philippines and Indonesia.
Date of event: 27-29 May 2006
Place: Jakarta Indonesia
Organisers: Reality of Aid, Asia-Pacific Pacific Asia Resource Center (PARC) Indonesian Forum on Development (INFID)
To register or for more information, contact: Reality of Aid Secretariat:
, or see: www.realityofaid.org
The Filipino people continue to carry the burden of servicing US$1.2bn odious debt incurred by the Marcos dictatorship with more than 50% pf the Philippine budget automatically appropriated for debt servicing.
Meanwhile, an estimated US$126bn in illegitimate debt attributed to the Suharto dictatorship exact its toll especially on Indonesia's poor.
Growing concern over the disastrous effects of the global debt crisis has resulted in a number of international initiatives for debt relief. Debt cancellation however remains the most important path towards achieving genuine relief and justice. But this remains very controversial and unpopular among governments and lending agencies.
Building on the issue of dictatorship debts to push forward the international campaign on the cancellation of illegitimate debts is necessary as well as urgent. The soonest and unconditional cancellation of those illegitimate debts incurred by the Suharto and Marcos dictatorships would result in a substantial relief for these countries which are suffering from severe and chronic economic crisis.
The International Conference on the Cancellation of Illegitimate Debts aims to bring together 100 participants from civil society organisations, social movements, government and creditor agency representatives for a discussion of the extent and impact of illegitimate debts and odious debts on the peoples of many southern countries. The conference also aims to highlight the impact of dictatorship debts incurred by the dictators Marcos and Suharto, among the poor of the Philippines and Indonesia.
What are illegitimate debts? Those incurred by a despotic power to strengthen its despotic regime or to repress the population that fights it;
Includes loans made by members of government or persons or groups associated with the governments for personal purposes;
Debts used for projects or programmes that did not materialize nor benefit the people or had harmed the community or its environment;
Debts that cannot be serviced without causing harm to people or communities.
The conference will take place between 27 and 29 May 2006 in Jakarta Indonesia.
It is co-organised by: Reality of Aid, Asia-Pacific Pacific Asia Resource Center (PARC) Indonesian Forum on Development (INFID)
It has received the support of: Christian Conference of Asia Norwegian Church Aid KAIROS Canada Eurodad
To register or for more information, contact: Reality of Aid Secretariat:
, or see: www.realityofaid.org
