"Over 50 of the world's poorest countries are facing the biggest debt crisis in history, which swallows up swathes of public funding. For example, 25 African countries are spending more on the interest they owe on foreign debts than they are on education: corporate profits prevailing over teaching the next generation."
"The cancellation of country-to-country debt in the early 2000s brought about huge change for the developing nations affected. Now, fresh conflict in the Middle East and other global crises are exacerbating a silent crisis that is paralyzing developing nations."
Over 50 of the world's poorest countries are experiencing the largest debt crisis in history, severely impacting public funding for essential services like education. For instance, 25 African nations are spending more on foreign debt interest than on education. UK laws enable profitable private lenders to sue these debt-distressed nations, exacerbating the crisis. Urgent action is needed from global leaders to address this issue, as the consequences of inaction are dire for developing nations.
Read at www.independent.co.uk
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