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The Guardian - UK
The Guardian - UK
Business
Heather Stewart Economics editor

Urgent calls for debt relief as study shows health and education cuts in developing world

a woman extracts water using a rope from an old hotel swimming pool
About 75% of people live in poverty in Mozambique. Although the IMF classifies the country as at-risk of not being able to repay debts it does not qualify for debt relief. Photograph: Zinyange Auntony/AFP/Getty Images

Top economists are demanding urgent action on debt relief in Washington this week, as analysis from the campaign group Debt Justice shows struggling governments are cutting back on health and education.

As finance ministers and central bankers gather for the International Monetary Fund (IMF) and World Bank annual meetings, influential experts including the Nobel laureate Joseph Stiglitz, and leading economists Mariana Mazzucato and Jayati Ghosh, are urging them to “turn debt into hope”.

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