Debt flashmob outside Pakistan summit
The Friends of Democratic Pakistan summit brought together ministers from 26 nations and organisations to discuss the short and long term needs of the country following this summer's devastating floods.
Pakistan needs to start work to recover from this unprecedented disaster, but it faces a huge debt burden. The country's debt stood at $49 billion last year, with $3 billion spent on 'debt service' payments.
The campaigners were calling on ministers at the meeting, who included UK Foreign Secretary William Hague, to Drop Pakistan's Debt if they really want to get the country back on its feet. The money being spent on debt needs to be used now for reconstruction and poverty reduction.
Pakistani activists joined the flashmob, chained to an enormous ball with “debt” written on it, symbolising how debt is holding their country's recovery prisoner.
Despite the growing campaign - at least 150,000 people have signed petitions worldwide so far - the response from the international community has failed to recognise the urgency of Pakistan's debt crisis. Indeed, part of the assistance announced to Pakistan since the flooding includes nearly $3 billion of new loans from the World Bank and Asian Development Bank, meaning the country must mortgage its future to pay for disaster relief.
Jubilee Debt Campaign is calling for an immediate two-year moratorium on Pakistan's debt payments, assistance in the form of grants not loans, and an audit of Pakistan's entire debt stock - much of which was built up under undemocratic leaders in the past, with Western support - to establish which debts are unjust.
TAKE ACTION: Email the UK Government and ask it to Drop Pakistan's Debt >>
FIND OUT MORE: Read our Fuelling Injustice report on debt and Muslim countries >>
Photos: Tineke D'haese/Oxfam