Oaxaca Declaration Against Illegitimate Debt (April 2022)
Oaxaca is a multicultural and multilingual state inhabited by 16 indigenous communities.
It is located in the southwest of Mexico and is the fifth largest state in the country. Its climate varies by region and it is made up of a variety of ecosystems.
It is a magical and ancestral land,
However, even with its great virtues, Oaxaca suffers from historic poverty and extreme inequality, caused by the neocolonial and neoliberal governments still in power.
From 2020 to 2023, due to the pandemic, production activity has been reduced and poverty has increased; the number of people with learning difficulties has increased; the lack of access to health services has worsened; and the lack of nutritious and quality food has increased. The struggle for social justice, for the elimination of poverty and inequality and for the realization of human rights is an urgent necessity for Oaxaca.
In 2021, Mexico paid 687 billion pesos in debt interest. In 2023, the financial implications will be over a trillion pesos, which far exceeds the budgets of the Ministries of Education, Health, Agriculture, Labour, Welfare and National Defence, as well as the budgets of the 19 priority social programs, for a total of 480 billion pesos.
Efforts are being made to revive economic growth, but this must not be done at the expense of the country’s poor states for the benefit of national and international donors. This year, the public debt amounts to 13,300,000,000,000 pesos.
It is not fair that the interest
Amount paid as remuneration for an investment or received by a lender. Interest is calculated on the amount of capital invested or borrowed, the duration of the operation and the rate that has been set.
debt repayments exceed the growth of the national economy. The sacrifice in the face of the crisis we are going through is not equal: the Mexican people sacrifice but the donors do not sacrifice, they profit.
Therefore, as NATIONAL PROMOTORA FOR THE SUSPENSION OF PUBLIC DEBT PAYMENTS,
we call on the Chamber of Deputies and the Chamber of Senators to join the social movements throughout the country; the economic crisis forces them to raise the flag for the suspension of debt payments in our country.
As our spokesperson, comrade Eric Toussaint, said, we are in a situation where the arguments of international law, to know. “state of necessity”, “force majeure” or “fundamental change of circumstances” must apply, because when a country, or when a government, is faced with a situation where the life of its population is in danger, its international trade obligations do not have to be respected or enforced. Therefore, debt repayment can be suspended so that state revenues can be redirected to urgent spending responding to the health and economic crisis.
We are also calling for a tax on the wealth of the wealthiest, as well as on their income. We are talking about a small sector of society, the top 1% to 10%. It would be a one-off and exceptional tax to fight the crisis and generate very significant revenues that would really help to respond to a critical situation, to be able to make significant investments in the health system and to help the victims of the crisis. And above all, to revive the collective and solidarity economy.
It is not a question of reactivating the economy so that it can function as it has done so far. Of course, we must help small and medium-sized enterprises and also micro-entrepreneurs. In general, they are very indebted people.
And finally, central banks must grant loans to public authorities at 0% interest. These are all fundamental measures. Citizen participation is absolutely fundamental in a debt audit. Although the debt must be suspended, whether illegal or legal, legitimate or illegitimate, the ultimate question will be whether to repudiate or cancel the debts, beyond the suspension of payments. And to do this, it is necessary to carry out an audit with the participation of citizens in order to determine whether the debt is illegitimate, odious, unsustainable and illegal.
Remember that a debt is odious if it is contracted against the interests of the population and that international creditors are aware of this situation. A debt is illegitimate if it is contracted to further the particular interests of a privileged minority.
FOR THE DEFENSE OF THE HOMELAND: SUSPENSION OF THE PAYMENT OF THE PUBLIC DEBT!
DOWN WITH CORRUPTION!
YES TO THE AUDIT OF THE PUBLIC DEBT!!!!
FOR THE REBIRTH OF OUR ECONOMY!
YES TO BETTER LIVING CONDITIONS IN DIGNITY FOR ALL!!!!!
LONG LIFE TO OAXACA!
LONG LIVE MEXICO!
LONG LIVE THE PEOPLES AND COUNTRIES IN RESISTANCE!!!!!