Topic: Finance and debt
Global Week of Action for Justice and Debt Cancellation
Article / 13th October 2022As the IMF and the World Bank will hold their annual meetings, activists are raising demands to #CancelTheDebt. Read below the civil society open letter to all governments, international institutions and lenders.
How the Treasury Department could prevent mass starvation with no cost to the taxpayers
Blog / 5th August 2022As hunger threatens millions, the Biden administration should give its OK for the IMF to distribute financial backing to the world’s poorest countries. By Mark Weisbrot.
West must force private lenders to ease Africa’s crippling debt, say campaigners
News / 13th July 2022Western governments should “compel” private lenders to ease loan repayments from low-income countries to tackle a debt crisis, according to campaigners.
Climate justice means debt justice
Article / 14th October 2021A climate debt is owed. It is owed by the richest countries, whose carbon emissions—through centuries of industrialisation made possible by colonial extraction—have been the principal cause of the climate crisis.
Covid pandemic has pushed poor countries to record debt levels – World Bank
News / 13th October 2021The Covid-19 pandemic has led to a “tragic reversal” in development and pushed debt in poor countries to record levels, the head of the World Bank has said.
Wealthy nations must share more resources or risk crisis for billions, warns UN chief
News / 29th September 2021The head of the UN has called on rich countries to step up efforts to protect workers hit by the Covid-19 pandemic with an additional $1tn injection of funds to avoid a twin-track recovery that widens the gap with the world’s poorest nations.
More than 100 countries face spending cuts as Covid worsens debt crisis, report warns
Report / 24th September 2021More than 100 countries face cuts to public spending on health, education and social protection as the Covid-19 pandemic compounds already high levels of debt, a new report says.
Wartime fiscal measures on the pandemic profiteers could raise enough money to buy vaccines for everyone and fund for the recovery
Blog / 16th September 2021Outrageous profits have been made by the extremely rich during the pandemic. They need to show shared sacrifice and solidarity by rallying behind the rest of the world, writes Anthony Kamande.
As rich-poor divide widens between nations, UN urges reform
News / 16th September 2021A new report from the United Nations highlights divergent economic recoveries between nations and throws fresh urgency behind warnings that richer nations are not doing enough to help poorer countries from falling further behind as the world recovers from COVID-19 disruptions.
Adding fuel to fire: How IMF demands for austerity will drive up inequality worldwide
Report / 3rd September 2021A new briefing paper by Oxfam shows that the International Monetary Fund is systematically encouraging countries to adopt austerity measures once the pandemic subsides, risking a severe spike in already increased inequality levels.