Covid-19 could push up to 150 million people into extreme poverty. At the same time, many large banks and speculators – including Blackrock, JP Morgan, HSBC and UBS – continue to demand debt repayments from some of the poorest countries across Africa, Asia, Latin America and the Caribbean.
That means these countries are left with less money to spend on tackling Covid, the climate crisis and essentials such as education and health.
Right now, African countries are spending three times more on debt repayments to banks and speculators than it would cost to vaccinate the entire continent against Covid-19.
Other lenders, including rich countries, have already agreed to suspend debt payments due to the impacts of the pandemic. But most banks and speculators have continued to demand every penny.
Join us to demand big banks #CancelTheDebt.