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    Debt and Public Services

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    Name:
    debt-public-services-011007-en.pdf
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    Format:
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    Description:
    English paper
    Download
    Publication date
    2007-10-01
    Subject
    Economics
    Governance and citizenship
    Keywords
    Debt
    Finance
    Debt relief
    Country
    Zambia
    Guyana
    
    Metadata
    Show full item record
    Publisher(s)
    Oxfam GB
    UNISON
    Document type
    Briefing note
    Description
    The debt crisis has its origins in the 1970s and 1980s, when rich governments and companies lent huge sums to developing countries, often knowingly to corrupt regimes and to serve their own political or commercial ends. Whilst there have been major steps forward in cancelling debt, in response to campaigner pressure, the rich world has still not taken full responsibility for these 'illegitimate' debts and the ensuing debt crisis. On the contrary, as debt burdens grew over the last 30 years, creditors told impoverished countries to cut their public spending in order to 'balance the books' and keep up with debt payments. Today, debt drains poor countries of resources that could otherwise be spent on vital public services. Where debt has been cancelled, countries have invested in public services, extending healthcare, education, water, sanitation and electricity to millions more people.
    Pages
    4
    URI
    http://hdl.handle.net/10546/123915
    Additional Links
    https://policy-practice.oxfam.org.uk/publications/debt-and-public-services-123915
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