DC: Protesters demand global debt cancellation at US Treasury during IMF meetings week

As part of a global day of action yesterday during the IMF and World Bank annual meetings, Debt for Climate US demanded cancellation of Global South debt in front of the U.S. Treasury Department in Washington, DC. Over 200 flyers were passed out explaining the debt crisis and what the U.S. Treasury can do about it.

Countries in the Global South are economically strangled by massive debts imposed by the IMF (International Monetary Fund) and the World Bank. These institutions are under the thumb of the U.S. Secretary of the Treasury, who wields veto power.

The nearly $9 trillion in debt held by the IMF and World Bank leads to extraction of resources, disruption of ecosystems, pollution, and destruction of communities and cultures. Continuation of these debts is causing climate and ecological catastrophes for people everywhere.

Debt for Climate demands the unconditionalcancellation of the illegitimate debts of the Global South.