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Protests Mar Kyrgyz Decision to Join HIPC
-- By Pushpa Sathish, Staff Writer
While the citizens of most debt-ridden countries would welcome debt relief with open arms, the people of Kyrgyz are up in arms against the country’s decision to join the Heavily Indebted Poor Countries (HIPC) program. The former Soviet Union member with a population of 5 million is one of the poorest with debts totaling $2 billion, and by becoming a member of this initiative, stands to gain relief between $250 million and $400 million.
But stumbling blocks are rising up in the form of the Forum of Young Politicians who are protesting the move and calling for the resignation of the president and the government and the dissolution of the parliament if the country joins HIPC. The angry activists have already staged three demonstrations this month against the program run by the International Monetary Fund and the World Bank, claiming that it was just a ruse to allow foreign companies to gain control over Kyrgyz’s energy sector. IHT reports:
The protesters held signs reading "WB, IMF — killers and occupiers" and "HIPC will strangle Kyrgyzstan." They marched to the World Bank office, where they burnt down an effigy symbolizing the HIPC program that they carried there in a coffin.
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