Half a trillion in debt haircuts essential for sustainability – study

[searcher]

Jubilee time...................

Linky stuff:

LONDON, April 6 (Reuters) - Up to $520 billion in debt needs to be written off to help developing nations at greatest risk of default return to a sounder fiscal footing and meet climate and development goals, according to a Boston University report released on Thursday.

Up to $520bln in debt write-offs needed for emerging nations' climate goals

Up to $520 billion in debt needs to be written off to help developing nations at greatest risk of default return to a sounder fiscal footing and meet climate and development goals, according to a Boston University report released on Thursday.

www.reuters.com

 

[Casey Jones]

Sure.

Invalidating government debt, turning BORROWED money into TAXES TAKEN...really helps the gawddamm CLIMATE.

We need Gallows Bonds. We need to raise money to hire 20,000 new hangmen.

 

[Voodoo]

Now do the USSA. How much do we need to write off?

 

[andial]

In our own backyard you ask? PROMESA, formed in 2017 reduced Puerto Rico's 125 billion dollar debt by over 75 percent! What happened to those bonds? Nobody asked yet.

 

[pmbug]

Link in OP contained a link the following report that lists some of the at risk countries:

Factbox: The developing countries facing a debt crisis

The record number of developing nations at risk of a debt crisis will be high on the agenda next week when central bankers, finance ministers and political leaders convene for the World Bank Group and International Monetary Fund (IMF) spring meetings.

www.reuters.com

 

[searcher]

Didn't realize there was already another thread already in play when I started this thread,

Odious Debt. A "Jubilee" to come?

... One thought that comes to me regularly is the thought of a "Jubilee", now thought of as a renunciation of debts. The idea is seen even in the Old Testament of the Bible. Every 50 or so years, Old Israel would declare all debts null and void. I believe (once again, I am not an expert on...

www.pmbug.com

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What's A Debt Jubilee? Everything You Need To Know​