Tuesday, October 09, 2018

Condemning the IMF and the World Bank

At a meeting of La Via Campesina facilitated by Serikat Petani Indonesia (SPI) in Bali, peasant organisations from Asia, Africa, Americas and Europe have unanimously held World Bank and IMF responsible for facilitating large scale land grab, deforestation and ocean grabbing around the world, which has led to inequality, poverty and global hunger.

David Calleb Otieno from Kenyan Peasants League said: “In Kenya recently, IMF pushed for the enactment of Finance ACT 2018 that has increased tax on fuels, mobile money transfer, and repealed the interest rate law. The intention is to benefit Kenyan creditors to continue earning from Kenya’s servicing of the debts at the expense of the well being of Kenyan people. There is a freeze on welfare spending in Kenya. Kenyan Debt to GDP ratio now stands at almost 70% of the GDP. Caught in this debt trap, almost everything is being privatised – transport, water, telecommunication. Peasants have lost their autonomy over seeds and our agricultural policies are pushed towards incentivising cultivation of cash crops. All these policies are being pushed at the behest of IMF and World Bank.”

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