Hundreds of Thai farmers, fishermen, and workers marched through the streets of Bangkok on October 16, voicing concerns about the impact of international financial institutions on their livelihoods. The demonstration coincided with the annual meetings of the International Monetary Fund (IMF) and the World Bank, which brought global finance and business leaders to the city.
The protesters, many dressed in traditional straw hats and colorful scarves, sought to reach the main conference center but were halted by police approximately one kilometer away. Authorities had blocked the road with shipping containers to prevent the marchers from advancing further.
Participants carried banners with slogans such as “World Bank, stop destroying the poor,” highlighting longstanding criticisms that IMF and World Bank loans often come with conditions that burden borrowing countries and exacerbate poverty. Many called attention to specific projects, including the Pak Mun dam in northeastern Thailand. Completed in 1994 with World Bank support, the hydropower dam has been blamed by fishing communities for disrupting aquatic ecosystems and diminishing fish populations.
“There are no more fish. They can’t swim upstream,” said Putta Musanaen, a 67-year-old fisherman who traveled overnight from Ubon Ratchathani province. He described changes in the river’s flow and ecosystem that have adversely affected his community’s traditional way of life.
Rice farmer Somporn Yamyong, 62, from central Suphan Buri province, joined the protest to highlight the financial challenges facing farmers. While Thailand no longer carries an IMF loan—it fully repaid its debt in 2003—it continues to engage in projects with the World Bank. Farmers like Yamyong emphasized the ongoing struggles with debt and low earnings in the agricultural sector.
Coconut farmer Sombat Chuekrod, 51, from Prachuap Khiri Khan province southwest of Bangkok, expressed concerns about worsening poverty, urging lenders not to impose further hardships on already vulnerable populations.
The demonstration also attracted some international participants. Harry May, a 59-year-old activist and researcher from South Africa, criticized global financial institutions for deepening debt in developing countries despite their stated aims of debt relief and development support. “We shouldn’t be indebted to the same people who say they’re going to relieve debt and provide development and then just create more debt for those countries,” he said.
The rally reflected broader tensions around the role of global financial institutions in shaping economic policies and development trajectories, particularly in countries where rural communities depend heavily on natural resources and agriculture for their survival.