With debt levels of developing countries rising rapidly, there is now a real threat of a repeat of the ‘Third World’ debt crisis which trapped countries across Africa, Asia and Latin America in a spiral of debt and impoverishment for two decades. 22 countries are already in debt crisis, and a further 71 at risk. The debt trap is already threatening essential public services, with governments diverting scarce funds away from health, education, water and sanitation just to service their debts.

The focus of this project is awareness-raising amongst politicians, policy-makers, and the public about the threat to development posed by booming debt levels, and the action needed to avert the new debt trap. We will press the UK government to take action, work with campaigners in countries most at risk to support their advocacy, and strengthen joint international campaigns for the major changes to the global economy that are needed to tackle spiralling poor country debts.