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Webinar on the global effects of Covid-19
The economic turmoil caused by Covid-19 is pushing countries in the global south deeper into crisis. Some estimates are that half a billion more people could be pushed into poverty as a result of the impact of the virus.
Lower-income countries were due in any case to spend $40 billion on debt payments in 2020, at a time when every spare penny is needed for healthcare and to combat the economic impacts of Covid-19. Together with hundreds of thousands of people around the world, the Jubilee Debt Campaign (JDC) is calling for that debt to be cancelled.
JDC will hold a webinar at 6.00pm on Wednesday 10 June, featuring speakers from around the world, who will each talk about the impact that Covid-19 is having in their countries, how they are campaigning for debt cancellation and what action we can take from the UK to support their campaigns. The speakers include:
Chenai Mukumba, Director of CUTS International in Lusaka, Zambia – Zambia has been in debt distress long before the pandemic, and is attempting to restructure billions of dollars in debt. The country’s spending on healthcare and other public services has fallen by almost a fifth since 2015, while its debt costs continue to rise.
Abdul Khaliq, CADTM Pakistan – Pakistan’s long-term debt crisis has been exacerbated by the pandemic, and its government has been vocal in calling for debt relief.
Patricia Miranda, Global Advocacy Director for LATINDADD – Latin America’s debt distressed countries have seen many uprisings against punitive debt restructuring measures, and now some are at the centre of the coronavirus pandemic. Activists are calling for new solutions to help fight both battles.
Tim Jones, Head of Policy at Jubilee Debt Campaign – The UK plays a huge role in the international financial system, with many private debts owed under UK law as well as the influence the government exerts in international institutions such as the IMF and G20.