Resource Title
Why does the UN chief think a debt crisis for the global south is on the way?
Summary
This highly accessible factsheet explains concepts such as debt, GDP, growth, interest and defaulting in simple, easy to understand language. It also highlights why there is now talk of a global debt crisis and why it matters, as well as giving real-world examples such as Brazil and South Africa to further assist in understanding this sometimes complex topic.
Resource Details
Description
This resource first introduces the topic by quoting the UN chief discussing the looming debt crisis for the global south, before going on to explain key economic concepts that are relevant to debt. It does this using ‘plain-English’, images and analogies (such as ‘a hole in the bucket’), before advancing towards what it means to ‘default’ and the relationship between debt, growth and interest.
It concludes by giving short, easy to understand case studies of Brazil and South Africa and asks the vital question, ‘why does this matter for global financial justice?’