Right now, countries in debt crisis are being held to ransom by big banks and hedge funds, like financial giant BlackRock.
These lenders are acting like cowboys - making millions in interest payments while lower income countries are left without enough money to pay for health, education or to respond to the climate crisis.
Over 54 countries are in debt crisis. And we have a chance to make a real difference.
UK law plays a key role in enforcing debt contracts. 90% of the lending for low income countries is enforced through UK courts. That means we can push for a new law to make cowboy lenders cancel debt.
Not only that but an influential committee of MPs has come out and recommended just that. It’s crucial we take this chance to push for action.