PACD Manifest – Global Week of Action Against Debt and IFIs, 2012
The week from October 7th to 14th will be internationally marked and celebrated as the Global Week of Action against Debt and IFIs. The initiative, which started in 2007, stands for denunciation of the injustice of foreign debt on peripheral states. Also multilateral agencies such as the International Monetary Fund or the World Bank, which impose submission policies on the states, are denounced. Due to the financial crisis caused by the huge housing problem, debt has become a major issue. Financial powers use the situation to impose overly liberal reforms. As a result, there is a significant capital transfer from low and middle class incomes to high ones.