Global Debt Sacrifices the Worlds Poor on the Altar of Profit
The developing world owes a total of $29 trillion to richer nations. Fifteen countries spend more on interest payments than they do on education, and forty-six spend more on interest than they do on health. Its time for a global debt reckoning.
Demonstrators shout slogans during a protest near the National Congress in Buenos Aires on June 12, 2024. (Luis Robayo / AFP via Getty Images)
Shortly before his assassination in 1987, Burkina Fasos president, Thomas Sankara, issued a warning. Rich nations, he said, were deftly deploying debt to control the developing world. Sankara urged a united front against Africas creditors the only way to fi…
Read the full article at: https://jacobin.com/2024/06/global-debt-poor-credit-austerity
