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Protesters from various social groups have demonstrated in Bangkok, Thailand, during the annual meetings of the International Monetary Fund (IMF) and the World Bank, demanding debt cancellation for low- and middle-income countries in crisis, an end to subsidies for big corporations and higher taxes on the wealthy.
Demonstrators marched towards the meeting venue on Friday, following protests a day earlier. They also called for greater public participation in economic policymaking and more accountability from financial institutions.
According to Thai newspaper The Nation, around 500 members of the Assembly of the Poor gathered near Gate 1 of Bangkok’s Lumphini Park on Friday before planning to march towards the Queen Sirikit National Convention Centre (QSNCC), where the meetings were being held. Police maintained tight security around the venue.
The protesters sought to present a six-point set of demands, including cancellation of the foreign debts of financially distressed low- and middle-income countries and greater public oversight of government borrowing.
They also called for an end to subsidies for large corporations, arguing that the funds should instead support agriculture and environmentally friendly production. Other demands included progressive taxation of corporations and wealthy individuals, a more democratic and accountable central bank, and economic policies that prioritise people and the environment.
Workers, farmers, urban poor communities and representatives of social movements took part in Friday’s march, The Nation reported.
On Thursday, dozens of protesters also marched towards the conference venue, according to the Associated Press (AP). Some wore masks depicting US President Donald Trump, IMF Managing Director Kristalina Georgieva and other world leaders. They also carried a large pink pig symbol with dollar signs for eyes.
The demonstration temporarily disrupted traffic on nearby roads and led to scuffles with police.
Members of the People’s Network Against the World Bank and IMF and several civil society organisations had also begun a sit-in near the Rama IV intersection on Thursday. Some continued their protest on Friday.
The demonstrators argued that government negotiations with the IMF and World Bank over loans and development policies affect not only financing but also national development, people’s rights and social protection. They called for greater transparency and public involvement in such decisions.
The protests took place amid growing concerns over debt burdens, high energy costs and climate-related risks, which are putting pressure on developing economies and household budgets. Thursday’s demonstrations also highlighted family debt, poverty, pollution and climate-related hardship.
Protesters said poorer and marginalised communities bear a disproportionate share of economic hardship and urged international financial institutions to prioritise reducing inequality, strengthening social protection and limiting environmental damage.
Security remained tight around the conference venue, while restrictions on public gatherings made it difficult for demonstrators to take their demands directly to the meeting site.
The IMF and World Bank had not issued any specific response to the protesters’ demands in the reports cited by AP and The Nation.