Debt crisis deepens
New figures released on World Debt Day show twenty-seven countries in crisis
Twenty-seven countries across the world are in debt crisis, up from twenty-two when the figures were last calculated in 2015, according to new figures released for World Debt Day on 16 May.
The figures, calculated by the Jubilee Debt Campaign, classify countries as in debt crisis if they have a large financial imbalance with the rest of the world and large government payments on external debt, as a proportion of revenue.
The twenty-seven countries include poor ones hit by the fall in global commodity prices, such as Ghana, Lao PDR, Mongolia and Mozambique; eurozone countries such as Greece, Ireland and Portugal; and countries in the global South which have been in debt crisis for many years, including Jamaica, Pakistan, Sri Lanka and Tunisia.
Comments
Just reading “Beyond Reach” by John Madeley, late Friend at Reading Meeting, about the “Make Poverty History” campaign of 2005. Sad, isn’t it. We do not appear to be able to take on “the powers that be”
By Sylvette T on 25th May 2017 - 19:22
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