A consortium of charities are today warning that that high debt servicing costs are preventing Global South governments from spending on vital public services such as education and health and making investments to limit the impact of the climate emergency.Thirty-two African countries spend more on paying external debts than they do on healthcare.
UK charities including CAFOD, Christian Aid, Save the Children, Oxfam, Debt Justice and the international development network, Bond, are gathering outside the UK Treasury to launch a campaign calling for a debt cancellation initiative in the Jubilee year of 2025.
Debt payments for lower-income countries are at the highest level in 30 years. Private lenders are the largest group of creditors,…
