I know what a big impact hearing from constituents can have – it’s one of the messages I hear time and time again when I speak to politicians. Hearing your calls for action on the debt crisis has helped boost the momentum for action in parliament – and the government is being forced to listen.
Debt repayments by lower-income countries have trebled in the last decade alone. [1] Spiralling interest rates, soaring energy prices and a global economy that puts the interests of wealthy nations first have already pushed 54 countries to crisis point.
Bambos Charalambous, the MP who tabled the debate, outlined why we need a new debt justice law to rein in the greedy private lenders who are forcing countries deeper into crisis. Referencing Sri Lanka’s debt crisis, he said:
“It is morally repugnant that private creditors behave in such a way, deliberately hampering the ability of a country to get back on its feet at a time of crisis.”
It’s time for action on the debt crisis. This year, as we embark on the biggest global debt campaign for a quarter of a century, I know that if enough of us come together we can make debt justice a reality.
In solidarity,
Jerome, Wiz, Eva and everyone at Debt Justice
