More than three billion people worldwide live in economies forced to spend more on debt repayment than on health or education. To help developing countries free themselves from the burden of unsustainable debt, a new UN-backed forum was launched Wednesday.
The Seville Debt Forum will promote fairer lending, faster restructuring and long-term reform of the financial system established after World War II.
Hosted by Spain and supported by the United Nations, this forum aims to maintain global attention on the debt crisis while translating into concrete actions the firm commitments made at the Fourth International Conference on Financing for Development (FFD4) in June in Seville.
Governments, finance ministers and creditors from…