Schoolchildren and campaigners from across the UK visited Parliament this week to urge MPs to address the global debt crisis which is engulfing many poor countries around the world.
They’re calling for a new Debt Justice Law, to create a fairer global system for low-income countries facing insurmountable levels of debt. The aim is to target irresponsible, ‘loan-shark’ behaviour – seen in some private creditors over the years – who are able to avoid accountability but rake in profits from unfair lending to poorer countries, burdening them with debt that can never be repaid.
The result is what’s being called a ‘global debt crisis’, where some of the world’s poorest countries are forced to spend more on payments to big banks and hedge…
