25 October - Post-Disaster Debt Cancellation for SIDS - an Unavoidable Next Step
DFI is today in Washington launching a briefing on post-disaster debt cancellation. As Commonwealth leaders meet in Fiji, and the world's finance ministers meet in Washington, it is not possible any longer to deny that SMall ISland Developing States have a critically urgent debt crisis, which is stopping them from fighting the climate crisis, protecting their marine environments and blue economies, and preventing progress on their citizens' social and development needs. This briefing explains how the international community could cancel SIDS' debt service for three years after they are hit by natural disasters, allowing them time to relieve their peoples' suffering and rebuild their economies, for the tiny cost of US$1.9 billion a year. This is "pocket change" to the world's finance ministers, and must be done now.
