How debt relief could reverse the devastating consequences of UK aid cuts

"UK-led action to address spiralling national debt in some of the world's poorest countries could more than offset the impact of UK aid cuts, producing net funding gains across water, sanitation, education and health, new research has found."

"One year ago today, the UK announced plans to slash its aid budget by 40 per cent, from 0.5 to 0.3 per cent of Gross National Income (GNI). This decision is expected to result in 2.9 million fewer children in school, 12 million more people without access to clean water and sanitation, and more than 600,000 additional deaths from preventable diseases."

"Many of the world's poorest countries have also slipped into spiralling debt distress in recent years, with low-income countries currently spending an average of 18 per cent of government revenue servicing foreign debts each year, compared with just 5 per cent in 2014. Some 3.3 billion people around the world now live in countries that spend more on debt payments than on education or health."

The UK reduced its aid budget by 40 percent, from 0.5 to 0.3 percent of Gross National Income, resulting in significant humanitarian consequences including 2.9 million fewer children in school, 12 million more people without clean water and sanitation access, and over 600,000 preventable deaths. Simultaneously, low-income countries face escalating debt distress, spending an average of 18 percent of government revenue on foreign debt servicing compared to 5 percent in 2014. Research indicates that UK-led action addressing this spiralling national debt in the world's poorest countries could more than offset the impact of aid cuts, generating net funding gains across critical sectors including water, sanitation, education, and health.

Read at www.independent.co.uk