Economists Demand Relief for Poorer Countries Facing Unsustainable Debt Burdens
A coalition of leading economists and former finance ministers is calling for immediate debt relief to low- and middle-income nations, warning loan repayments are squeezing out government funding for basic services, leading to poverty and preventable deaths.
Countries around the world are paying exorbitant debt servicing costs instead of paying for schools, hospitals, climate action or other essential services.
This appeal is made in a letter to the World Bank and IMF ahead of annual meetings this week, signed by economists including Columbia University professor Joe Stiglitz.
Author's summary: Economists urge debt relief for poorer nations.
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