As the end of 2023 approaches, 136 countries are considered to be in a critical debt situation. At the same time, fiscal space has been reduced, leading many, including governments, UN agencies and some international NGOs, to point to debt swaps as an innovative solution for tackling sovereign debt problems, while also generating resources for the Sustainable Development Goals (SDGs) or climate action. Therefore, debt swaps, while not new, are gaining increasing attention in international development and climate forums, particularly due to the proliferation of so-called “debt-for-nature swaps”.

Read the new report by Eurodad and others

A guide to collecting, analyzing, and presenting data, to shed
new light on how the global debt crisis impacts people’s rights.

By the Centre for Economic and Social Rights

Decoding_Debt_Injustice.pdf (cesr.org)

Today’s capitalism bears uncomfortable semblance to the Soviet economic system. Three key features I contend, are held in common between the systems. They are:a) central planning

b) the credits, subsidies and protections provided by central banks to failing ‘enterprises’

c) the requisitioning of surpluses and/or the looting of corporate profits and capital gains by powerful apparatchiks/elites.

Read the very interesting article by Ann Pettifor

Report reveals the challenges and risks of the growing indebtedness in Global South countries – interesting report by Latindadd

Wealthy Group of Seven (G7) countries owe low- and middle-income countries $13.3 trillion in unpaid aid and funding for climate action, reveals new analysis from Oxfam ahead of the G7 Summit in Hiroshima, Japan. 

Despite failing to pay what they owe, G7 countries and their rich bankers are demanding that Global South countries pay $232 million a day in debt repayments through 2028. This money could otherwise be spent on healthcare, education, gender equality and social protection, as well as addressing the impacts of climate change.

G7 owes huge $13 trillion debt to Global South | Oxfam International