Help Pakistan – drop the debt

Dear Friends,

As Pakistan struggles to rescue families from flood waters and fend off disease and starvation before winter sets in, it is scrambling to pay out a shocking 30% of its annual budget revenues to foreign creditors on debt incurred by previous dictatorships.

If Pakistan is obliged to make these debt payments, rescue efforts for tens of millions of people whose lives have been devastated could be crippled. Earlier this year, we persuaded creditor governments to drop Haiti’s debt after it was devastated by an earthquake — and now we could do the same for Pakistan.

Right now international financial institutions and donor countries are assessing how to assist Pakistan. Let’s come together and call for life-saving debt relief for the people of Pakistan. Sign the petition below to stop these stifling debt payments and let Pakistan rebuild, and it will be delivered directly to ministers and senior officials attending the Annual Meetings of the World Bank and the International Monetary Fund (IMF).

http://www.avaaz.org/en/pakistan_cancel_the_debt/98.php?cl_taf_sign=sNJfJd6N

Pakistan’s staggering $55 billion debt burden comes from decades of reckless spending by its autocratic ruling elites, matched by irresponsible lending on the part of Western creditors and banks.