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With a notice in the Financial Times newspaper the day the G20 interministerial finance summit begins, the civic and social movement Avaaz asked the International Monetary Fund and the Argentine government to include the figure of environmental compensation in the ongoing sovereign debt negotiations.
According to the movement, Latin American countries have a Gross environmental product (that is, natural resources, water and the theoretical potential to produce food) of about $ 17.61 trillion while its debts to the IMF are $ 58.800 million.
“We ask Georgieva and Guzmán to lead the action: the Argentina is a financial debtor but is an environmental creditor. Instead of forever refinancing payments, the G20 should lead an international agenda to bring into the discussion the ecological contributions that countries make to maintaining planetary sustainability, ”Argentina said. Oscar Soria, Avaaz Campaign Manager.
“The world doesn’t need clichés or communications with abstract language, we need concrete actions and creative leaders who can realign our economic policies with the long-term survival of people and the planet,” explains part of the text accompanying the image of a tourist postcard from Venice which features Martin Guzman and Kristalina Georgieva sitting in the same gondola which ends by asking: “Kristalina and Martin: work together for make Argentina the model of a new way forward, with a nudge for the IMF to agree to liquidate all debts and ensuring that instead of unsustainable debt repayments, countries like Argentina can use their funds to protect the ecological wealth that is essential to the survival of the whole world ”.
“We are all in the same gondola, and the world needs new ideas and more collaboration. The IMF and Argentina could show the world that, on the basis of a truly innovative and creative negotiation, it is possible to overcome the intertwined crisis of financial debt and ecological debt, ”concluded Soria.
The movement has been campaigning for years on the debt equation. He understands that the international environmental agenda allows for the negotiation of “credits” and “debts” from the point of view of climate policy or biodiversity, and that the ecological footprint can be an appropriate indicator to restart a discussion where our savings work for this and for future generations. From there, it forces rich countries and international financial organizations to take a disruptive and innovative approach to proposing debt renegotiations, which would involve shifting the developed-emerging-country paradigm.
Last April, the movement presented its campaign with a parody of the musical Evita at the gates of the IMF in Washington, during the spring meetings of the organization. One of the track records he considers is that in March of last year and along with other global organizations, the G20 suspended all bilateral debt to 77 countries by 2020, or roughly $ 20,000 million.
The request is made on the day that the Minister of Economy, Martín Guzmán is in Italy to attend the Summit of Finance Ministers and Presidents of Central Banks of the G20, where he will take the opportunity to continue negotiations for a new program with the IMF. .
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