Blogs sobre Problemáticas Sociales
G20, IMF and WB kick the can down the road and fail to deliver solutions to the worst debt crisis ever – CSOs react
This week G20 finance ministers, the IMF and the World Bank have again failed to take any meaningful action to deal with the deepening global debt crisis, continuing to term it ‘short-term liquidity challenges’.CSOs from across the world react with dismay at this failure. They point out how global south countries are being forced to default on human rights, the Sustainable Development Goals and the climate crisis – and a major reason is the unsustainable levels of debt payments. Domestic and external debt service is absorbing 42% of spending in all countries, and 55% in Africa. It is 2.7 times education [...]