For over a year Ghana has been trying to strike a deal with the financial giants that have trapped the country in debt. But just last month the talks collapsed – undermined by greedy lenders holding out for profit.
As an election looms in the UK, we need to make sure MPs know that a debt justice law here could play a critical role in ending the debt crisis. The more MPs raise this within their party, the more likely the next government will make a debt justice law a reality.
We’re facing the biggest debt crisis we’ve seen in over twenty years, and the impact on people’s lives is devastating. In recent years, Ghana’s food prices have skyrocketed by 122% and fuel prices by 150%.
It’s a shocking situation which you, friend, could help turn on its head – because 90% of the debts owed by lower income countries to banks, hedge funds and oil traders are overseen by UK law.
At a time when MPs will be keener than ever to hear from constituents, will you email your MP today and ask them to back a new debt justice law?
In Ghana and other countries in crisis, people are resisting – taking to the streets in protest and demanding debt cancellation. But, as Ghanaian debt campaigner Bernard Anaba explains, we urgently need a new law that would make these greedy lenders play ball:
“Lenders basically put profit before people – so if there’s no legislation to force them to come around the table, they won’t ordinarily do that on their own.”
