{"id":52305,"date":"2020-04-08T20:00:21","date_gmt":"2020-04-09T01:00:21","guid":{"rendered":"https:\/\/olduvai.ca\/?p=52305"},"modified":"2020-04-08T20:00:28","modified_gmt":"2020-04-09T01:00:28","slug":"calls-for-global-debt-jubilee-grow-louder-as-anything-goes-policy-mania-takes-over","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=52305","title":{"rendered":"Calls For Global Debt Jubilee Grow Louder As &#8216;Anything Goes&#8217; Policy Mania Takes Over"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.zerohedge.com\/economics\/calls-global-debt-jubilee-grow-louder-anything-goes-policy-mania-takes-over\">Calls For Global Debt Jubilee Grow Louder As &#8216;Anything Goes&#8217; Policy Mania Takes Over<\/a><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>About 140 global organizations and charities are calling for a worldwide Debt Jubilee to avoid some of the world&#8217;s poorest countries from collapsing into chaos amid the COVID-19 crisis,<\/strong>&nbsp;<a href=\"https:\/\/www.bbc.com\/news\/business-52178968\">reported BBC News<\/a>.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The British-based Jubilee Debt Campaign is leading the movement ahead of the G20 meeting this week.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;Developing countries are being hit by an unprecedented economic shock, and at the same time face an urgent health emergency,&#8221; said Sarah-Jayne Clifton, director of the Jubilee Debt Campaign.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><em>&#8220;The suspension on debt payments called for by the IMF and World Bank saves money now, but&nbsp;<strong>kicks the can down the road and avoids actually dealing with the problem of spiraling debts.<\/strong>&#8220;<\/em><\/p><\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">Clifton is urging for the&nbsp;<em>immediate cancellation of 69 of the world&#8217;s poorest countries&#8217; debt payments this year<\/em>, which would free up at least $25 billion for the countries in 2020, and up to $50 billion if the jubilee was extended to the end of 2021.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><em><strong>&#8220;This is the fastest way to keep money in countries to use in responding to Covid-19, and to ensure public money is not wasted bailing out the profits of rich private speculators,&#8221;&nbsp;<\/strong>added Clifton.<\/em><\/p><\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">The latest call for a Debt Jubilee should come as no surprise to ZeroHedge readers.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/inline-images\/debt%20jubilee.jpg\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Over the last several decades, governments across the world have added insurmountable debts, leading<a href=\"https:\/\/www.zerohedge.com\/news\/modern-debt-jubilee\">Bill Buckler via&nbsp;<em>The Privateer&nbsp;<\/em>to say back in 2012<\/a>&nbsp;that&nbsp;<strong>the world has dived down a deep hole and into a trap that has &#8220;ensnared Japan more than two decades ago.&#8221;<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Calls For Global Debt Jubilee Grow Louder As &#8216;Anything Goes&#8217; Policy Mania Takes Over About 140 global organizations and charities are calling for a worldwide Debt Jubilee to avoid some of the world&#8217;s poorest countries from collapsing into chaos amid the COVID-19 crisis,&nbsp;reported BBC News.&nbsp; The British-based Jubilee Debt Campaign is leading the movement ahead [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[7408,418,434,855,888],"class_list":["post-52305","post","type-post","status-publish","format-standard","hentry","category-economics","tag-debt-jubiliee","tag-imf","tag-international-monetary-fund","tag-viral-pandemic","tag-world-bank"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/52305","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=52305"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/52305\/revisions"}],"predecessor-version":[{"id":52306,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/52305\/revisions\/52306"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}