The people of Pakistan have suffered from a crippling national debt for 40 years. The global financial crisis, the horrific floods of 2010 and the so-called ‘war on terror’ have all made Pakistan’s debt spiral out of control.
This debt has done little for the majority of Pakistan’s people. It has increased inequality and deepened impoverishment. Today, 50 million people live below the poverty line. Over 20 percent of government revenue is spent on debt payments – more than on health and education combined.
In September, the International Monetary Fund (IMF) agreed the latest in a long-line of ‘bailout’ loans, paying off reckless lenders, whilst keeping Pakistan trapped in debt. As a condition of the loans, public spending will be cut and prices for food and fuel increased. Meanwhile, richer companies and individuals continue to pay too little in tax. The people of Pakistan must be free to decide upon their own economic future – a future without the crippling burden of inherited debts and IMF-imposed conditions.
Speakers
Abdul Khaliq from CADTM-Pakistan will tell us the stories from Pakistan we do not hear in the news – the impact of debt on people’s lives, the extreme economic policies pursued in the name of paying unjust debt, and how people are struggling for a fairer society.
Tim Jones from Jubilee Debt Campaign will show how Pakistan’s experience is replicated across the world, from Tunisia to Ireland, Jamaica to Greece. And how the inspiring struggles in these countries point towards a world which does not suffer from unjust debt.
Habib Malik from Islamic Relief UK, an international aid and development charity which aims to alleviate the suffering of the world’s poorest people. Islamic Relief is pushing for measures to tackle Pakistan’s debt crisis, including a public audit into the debt.
Event Details
Bradford: 31st October, 7pm – 9pm
Carlisle Business Centre, Carlisle Road, BD8 8BD
With Abdul Khaliq (CADTM-Pakistan), Tim Jones (Jubilee Debt Campaign) and Habib Malik (Islamic Relief UK).
