Indian National Green Party


National Policy-The international Debt Crisis

3.1 Principles
The Indian National Green Party recognised that repayments of past loans have so outstripped new loans that the net transfer of money is from the developing world to the developed.
3.2 Goals
The Indian National Green Party will intensively lobby to :
a) cancel all debts of developing countries;
b) achieve radical reform of the World Bank and the International Monetary Fund or establish a new international lending institution that would take over the responsibilities of these institutions, to be governed by a board with gender balance as well as equal representation from both developing country debtors and western lenders; and
c) encourage developing countries to pursue strategies of economic development which are highly self-reliant and which prioritise the production of goods and services from local sources. .