Andy Burnham should spearhead a debt justice law and end this shameful global crisis now

Bambos Charalambous argues that the UK should introduce a debt justice law to help countries facing unsustainable government debt. He says heavy repayments are diverting money from healthcare and education, and that the UK has particular influence because many private loans to these countries are governed by English law.

Debt Justice research cited in the article says nine Commonwealth countries spend more on interest than on health or education, while six spend more on debt than on healthcare. In Zambia, education spending is 32 per cent lower than in 2015; reducing debt payments for 21 Commonwealth countries to 10 per cent of government revenue could, the research estimates, help 9.8 million children stay in school and save 115,000 babies’ lives. The article also points to South Sudan being sued in an English court over $657 million in loans and argues creditors’ claims should be limited to what they would receive through debt restructuring.