Coronavirus: Cancel the debts of countries in the global south

Head shot photo of Rishi Sunak

The economic turmoil caused by coronavirus is pushing indebted countries deeper into crisis.

While millions are facing health and other impacts around the world, the economic impacts could spell disaster for countries in the global south. The cost of borrowing has gone up dramatically, and they are getting less money for products like copper and coffee, on which their economies depend.

Soon world leaders will discuss how to respond to coronavirus at the spring meeting of the International Monetary Fund (the organisation that steps in when countries are in debt distress). They have the opportunity to protect some of the world’s least well-off countries. But that will only happen if we call on them to act.

The UK has a lot of influence at these meetings, and our new Chancellor, Rishi Sunak will be taking part. Call on him to push the IMF to cancel the debt.

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