Low-income countries are being pushed into a deepening debt crisis, forced to pay ever higher interest rates to wealthy lenders. Money that should be spent on food, healthcare, and education is flowing out of countries that can least afford it. Governments across the global south have an impossible choice between serving their people or paying their creditors. Every day this continues, millions are suffering the effects.
Often, countries have already paid their debts once, but due to extortionate interest rates, they have to pay the original debt many times over.
In 2027, the UK will host the G20 - a crucial gathering of the world’s 20 most powerful economies. These leaders have the power to fix the global debt system. The UK must act now to help end this crisis.
Please sign our petition today and strengthen our call for greater ambition and action, not just words, from the UK government.
1. Pass a UK Debt Justice Law—without delay Pass legislation to require private lenders to participate in debt relief so they can no longer make huge profits from countries struggling with unsustainable debts.
2. Lead urgent global reform Use the UK’s G20 presidency to bring governments together to fix the broken global debt system and guarantee fast, fair and effective debt relief for countries in crisis.
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