A New Debt Crisis? Assessing the impact of the financial crisis on developing countries
This report is intended as a wake-up call to anyone who thinks the developing world debt crisis has been resolved.
As a result of the global economic slowdown as many as 53 million more people will be trapped into poverty in 2009. The ‘Washington Consensus’ has failed. As the financial crisis leads the North into a deep recession, what impact is the economic downturn having on the world’s poor? What might the consequences for developing country debt be? This report is intended as a wake-up call to anyone who thinks the developing world debt crisis has been resolved.
*The Jubilee Debt Campaign is part of a global movement working for full cancellation of unjust and unpayable poor county debts by fair and transparent means. It is a UK coalition of around 90 national organisations and 100 local and regional groups, as well as thousands of individuals.
2. Reckless finance
3. History of the debt crisis
4. Where does the responsibility lie?
5. Backdrop to the crisis: a perfect storm
6. First order consequences
7. Will this bring about a new debt crisis?
8. What does all this mean for poor people?
9. Which countries might be most vulnerable?
10. Country case studies
11. What must be done?