Christian Aid: On debt, UK government should play its trump card

Jennifer Larbie, Christian Aid Head of UK Advocacy and Campaigns

Anneliese Dodds, FCDO Minister for Development, gave a keynote speech to the UK financial sector at the London Stock Exchange today on partnerships for growth. Speaking in response, Christian Aid's Head of UK Advocacy and Campaigns Jennifer Larbie said:

"It is welcome news to see the Minister recognise the key role the UK has in tackling the devastating debt burden affecting so many lower income countries. Given the majority of private creditor debts are registered under English law, she is right to say the UK has a good hand to play.

"But Ministers will be shuffling through a losing streak if they think incentives for voluntary measures will force real change. The government should pass legislation to compel private creditors to cancel existing debts, not just talk of preventing future debt crises.

"When the global financial system is stacked against poorer countries and demands those governments pay more in servicing debt than on health and education, the most ambitious form of action is needed. The UK has a moral responsibility to legislate to cancel debt, that is the trump card Ministers must play."

LINKS

Anneliese Dodds' speech to the Stock Exchange can be found here: www.gov.uk/government/speeches/new-partnerships-for-growth-fcdo-ministers-speech-at-the-lse

Christian Aid's 'Between Life and Debt' report - which is backed by former UK Prime Minister Gordon Brown who led global debt relief efforts in the 2000s - can be found here: Africa experiencing worst debt crisis in a generation - new report - Christian Aid | Mediacentre