ICC-ITUC Global Citizen Letter to Finance Ministers - Call for Debt Relief for Developing Countries
Free
An open letter to finance ministers from ICC, ITUC and Global Citizen calling for World Bank and IMF Spring Meetings to take the debt out of the Covid-19 equation
Global business, workers and civil society have united in a call for emergency debt relief to enable developing countries to combat the COVID-19 pandemic.
The International Chamber of Commerce (ICC), the institutional representative of over 45 million businesses, the International Trade Union Confederation (ITUC), the global voice of the world’s working people, and Global Citizen, a movement of engaged citizens who use their collective voice to end extreme poverty by 2030, have urged Finance Ministers to use next week’s Spring Meetings of the World Bank Group and International Monetary Fund to ensure sovereign debt does not stymie efforts to combat COVID-19.
With many developing countries now facing a decision to either service sovereign debt obligations or pay to safeguard the lives and livelihoods of their citizens, the letter calls on finance ministers to provide immediate relief from debt servicing obligations and fund the Catastrophe Containment Relief Trust.
Related Items
Trade Finance & COVID19
Free
Around 80% of world trade relies on trade finance—a market that has proven particularly vulnerable to previous financial shocks. Reduced access to reliable, adequate, and cost-effective sources of trade financing...
ICC - Unicef Joint Call to action
Free
Businesses of all sizes are feeling the effects of the COVID-19 pandemic and the unprecedented measures to contain it. As orders are cancelled and export barriers and movement restrictions cut-off...
ICC - IOM Guidance on Protection of Migrant Workers
Free
ICC COVID-19 Response: Guidance on Protection for Migrant Workers during the COVID-19 Pandemic WHY SPECIFIC GUIDANCE FOR MIGRANT WORKERS? >> Migrant workers are a crucial part of the work force...