Global Meeting on Debt led by the Global South

Last week, over 70 civil society experts convened in Bogotá, Colombia, for the Global Meeting on Debt led by Global South Civil Society. This critical gathering provided a platform for dialogue, debate, and the formulation of advocacy strategies in various regional and global forums, all aimed at addressing the pressing issue of debt affecting numerous nations in the Global South.

The event's inauguration featured insightful remarks by Patricia Miranda, Director of Global Advocacy at Latindadd. She emphasized the necessity of linking the specific issue of debt with the broader global financial architecture within the context of transformation. In an era of crises affecting Global South countries, this link is essential to drive meaningful change.

The conference also featured a compelling presentation by Juan Pablo Bohoslavsky, a renowned researcher at Conicet in Argentina and a former UN Independent Expert on External Debt and Human Rights. Bohoslavsky argued that international financial institutions, creditors, and national authorities must consider the profound impact of economic reforms related to public debt on human rights and development. He stressed the crucial point that loan conditions and proposed economic reforms should not undermine a borrowing state's obligations regarding human rights.

Organized by the Latin American Network for Economic and Social Justice (LATINDADD), in collaboration with civil society organizations such as AFRODAD, APMDD, EURODAD, Jubilee USA, and the Civil Society Financing for Development Mechanism (CS FfD Mechanism), this conference served as a vital platform for sharing knowledge, ideas, and strategies in the pursuit of equitable and sustainable solutions to the debt challenges faced by Global South nations.

The Bogotá meeting represents a significant step towards collective action and solidarity, as civil society continues to advocate for change and engage with global institutions and authorities to address the complex issue of debt, ensuring that the rights and well-being of nations in the Global South remain at the forefront of the international agenda.

You can read the Outcome Declaration here.