Debt Relief Benefits for Lower Income Countries

Debt relief for poor countries could send 5 million more children to school and provide 17 million people with clean water. A study suggests that reducing debt payments also saves lives—60,000 children and mothers.

The research examined 39 countries where debt consumes over 22% of government income. If payments decrease to 14%, 16 million people gain sanitation, 7 million receive clean water, 2 million children attend school, and 30,000 lives are saved.

For 88 countries, if debt payments decline to 5%, 33 million obtain sanitation, 17 million gain access to clean water, 5 million children go to school, and 60,000 lives are saved.

Countries such as Angola, Kenya, Pakistan, and Tunisia are included. The IMF and World Bank advocate for faster debt relief, but progress is slow.

Dr. Bernadette O’Hare highlights that debt reduction enhances public services and resilience to climate change. Heidi Chow of Debt Justice calls on the UK to prevent creditors from suing poor countries.

Debt relief is not just about numbers; it's about survival and hope for millions.