1/5 Do you want to know why is the debt illegitimate?
Read the thread and feel free to reply to us with your thoughts on the illegitimate debt π§΅π #DebtForClimate #DeudaXClima
2/5 The creditors we're targeting - @IMFNews and the @WorldBank, development banks, commercial banks, and mega-investors - are truly the debtors of the people and the earth they continue to exploit. π#DebtForClimate
3/5 π―This is their climate and neocolonial debt. This is why the debt that they hold, the one that's currently legal, is illegitimate: it perpetuates exploitation and is the exact opposite of the climate and neocolonial debt that remains to be paid. π#DebtForClimate
4/5 π―And very often, a tiny local elite maintains itself by taking a huge part of the credited money without paying it back; whereas the many only see their debt burden skyrocketing. π#DebtForClimate
5/5 π―Lastly, the Global South, and poorer people in the North, pay several times more interest than what the rich pay for their debt. This debt is a trap!
#DebtForClimate #DeudaXClima
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