The debt crisis in the Global South is preventing countries like Zambia from fighting the climate crisis, as well as draining away resources needed for public services. Zambia pays more in external debt payments than on health, education, social protection and water and sanitation combined.
Zambia’s debt is 46% of government revenue. Meanwhile, several African countries such as Uganda have resorted to harmful oil extraction in order to generate the resources to pay off their external debts.
There is no climate justice without debt justice, and the increasing proportion of Global South debt owed to private creditors has already reached around one-third, often at much higher rates than other lenders.
Heidi Chow, Executive Director of the Jubilee Debt Campaign, will reveal how private lenders in the Global North are fuelling the debt crisis, and will lead discussion about the action needed – from immediate debt-cancellation, to the challenge of genuine transformative change.
For more information and to register, please go to:
https://festivalofdebate.com/2022/life-or-debt-big-money-injustice-and-the-global-climate-crisis
For the full Festival of Debate programme, please go to https://festivalofdebate.com/
