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Prior to the pandemic 64 countries in the global south were already spending more on debt payments than their entire annual health budget.
Over the past year, some debt suspension has been offered to lower income countries by government lenders, including the UK, but many large banks and speculators continue to demand high interest debt repayments from these countries. Some companies could be making up to 250% profit from these loans if paid back in full.
There is an alternative to this broken system. We need to put these private profiteers in the spotlight and build as much public pressure as possible, and we need to push for further action from the UK government. By becoming a member today you’ll join a global call for a more just response to debt.
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