Topic: Finance and debt
It’s official, the global economy is a ‘debtor’s prison’
Article / 23rd October 2020As the World Bank and IMF sound the alarm on debts driven sky high by Covid-19 in some of the world’s poorest nations, debt ‘relief’ will not cut it – we need a thoroughgoing transformation of the global economy. By Nick Dearden for the New Internationalist.
In the midst of the pandemic, why is the IMF still pushing austerity on the Global South?
Report / 14th October 2020Despite its own warnings, the International Monetary Fund is risking another ‘lost decade’ for development, reports Soren Ambrose for openDemocracy.
The IMF must immediately stop promoting austerity around the world
News / 7th October 2020More than five hundred of the world’s leading charities, social groups and academics have sent a letter to the International Monetary Fund warning that its support programs are condemning many countries to years of austerity.
Gleneagles 15 years on: The last debt cancellation
Blog / 28th July 2020Last week marked 15 years since the G8 Summit in Gleneagles, Scotland, when leaders of the world’s richest countries agreed debt cancellation for many of the world’s poorest heavily indebted countries.
People in the Global South don’t need debt relief, they need a new system
Article / 7th May 2020Far from being the 'great leveller', COVID-19 has exposed and deepened socio-economic inequalities, writes Meera Karunananthan for openDemocracy.
G20 suspends debt payments for poorest countries
News / 16th April 2020International aid and development organisations stress that suspending debt payments during a major global economic and health emergency may not be enough to fight the crises.
Urgent call to head off new debt crisis in developing world
News / 23rd March 2020Rapid action is needed to head off the risk of a new debt crisis in the world’s poorest countries amid evidence that the Covid-19 pandemic is raising borrowing costs and hitting commodity exports, according to a leading campaign group.
Out of service: How public services and human rights are being threatened by the growing debt crisis
Report / 11th March 2020Public services play a critical role in advancing human rights and fighting inequality. But growing levels of external public debt threaten the very services on which citizens depend in order to have even a basic standard of living, explains a report by Eurodad.
Corrupt elites siphon aid money intended for world’s poorest
News / 21st February 2020A new study has found that as much as a sixth of foreign aid intended for the world's poorest countries has flowed into bank accounts in tax havens owned by elites.
Ballooning debt forces poor countries to cut public spending
Blog / 13th January 2020Poorer countries are cutting public spending in response to a “growing debt crisis”, campaigners have warned.