The International Peoples’ Tribunal (IPT) vs. the IMF and World Bank launched in the Philippines on October 26, 2024, marking a significant attempt to hold these financial institutions accountable for their long-standing economic and environmental policies.
The tribunal, organized by the Asian Peoples’ Movement on Debt and Development (APMDD) with over 30 supporting organizations from across Asia, Africa, and Latin America, accuses the IMF and World Bank of perpetuating debt dependency, exacerbating environmental damage, undermining access to essential resources, and worsening inequality in the Global South.
Lidy Nacpil, coordinator of APMDD, described the tribunal as a critical platform for marginalized communities to demand accountability for damages caused by IMF and World Bank policies. She underscored the institutions’ pattern of prioritizing wealthier nations' interests over the needs of vulnerable populations, calling for a transformative development model that centers on social and environmental justice.
A distinguished panel of international judges—including legal and economic experts like Tony La Vina from the Philippines, Kumi Naidoo from Stanford University, and Prof. CP Chandrasekhar from India—will oversee the tribunal's sessions. Following its initial session in Manila, the tribunal will hold further sessions in Nepal, India, Africa, and Latin America, culminating in a final verdict during the IMF and World Bank Spring Meetings in April 2025 in Washington, D.C.
This tribunal not only seeks reparation but also highlights a broader call for a global shift away from profit-driven economic models that often exacerbate poverty and environmental degradation.
