Debt payments by the 50 countries most vulnerable to the climate crisis have doubled since the start of the coronavirus pandemic and now stand at their highest level in more than three decades, campaigners have warned.
The Debt Justice charity said countries at the highest risk of being affected by global heating were paying 15.5% of government revenues to external creditors – up from less than 8% before Covid-19 and 4% at their lowest recent point in 2010.
Using data from the World Bank and the International Monetary Fund, the charity said its new report showed the urgent need for comprehensive debt relief so that poor countries could invest in measures to tackle the climate crisis.
“Record levels of debt are crushing the ability of…
