21 July, Resolving the Worst Ever Debt Crisis – 2024 Report Launch
The updated 2024 version of the Norwegian Church Aid study – Resolving the Worst Ever Global Debt Crisis – was launched at the Addis FFD conference. Its main findings are that average debt service to revenue and expenditure ratios have risen by 5% to 42% and that 91 countries will continue to have very high debt service for the next decade. It, therefore, makes proposals for differentiated debt relief to help countries hit by natural disasters, lower-income and market-accessing countries to reduce their debt service burdens sharply during 2025-30; suggests comprehensive reforms to the Common Framework and other legal and normative measures to be pursued in FSD and UNCAC, as well as laying out a roadmap for ending the debt crisis by the end of 2025. The study is available here, and a Guardian article covering it here. The full 2024 Debt Service Watch database will be published in October.
