MANILA, Philippines - Members of the Freedom from Debt Coalition (FDC) staged a protest action in front of the World Bank office here today to demand the total and unconditional cancellation of all debts it is claiming from the Philippines and developing nations. The protest action coincided with the opening of the Group of Eight Nations’ (G8) 35th Summit in Italy which sets among its agenda the development of a comprehensive response to the global economic crisis.
In a statement, FDC Vice President Lidy Nacpil said the longstanding demand of the peoples of the south for debt cancellation is the best economic stimulus program developing nations can use to address the crisis.
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