Topic: Finance and debt
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.
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.
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.
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.
Global austerity alert: Looming budget cuts in 2021-25 and alternative pathways
Report / 9th August 2021A new global study sounds an alert of an emerging austerity shock: most governments are imposing budget cuts, precisely at a time when their citizens and economies are in greater need of public support. By the Initiative for Policy Dialogue et al.
‘Far too low’: Tax justice campaigners push back against the G7’s 15% minimum tax-rate pact
News / 9th June 2021The world’s richest countries have finally agreed in principle to the idea of a global minimum corporate tax rate—a step that could signal a conclusion to a debate that has been raging for nearly a decade.