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October 14, 2025

Economists Demand Relief for Poorer Countries Facing Unsustainable Debt Burdens
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A coalition of leading economists and former finance ministers is
calling for immediate debt relief to low- and middle-income nations,
warning loan repayments are squeezing out government funding for basic
services, leading to poverty and preventable deaths. In a letter to the
World Bank and IMF ahead of annual meetings this week, the economists,
including Columbia University professor Joe Stiglitz, write, "Countries
around the world are paying exorbitant debt servicing costs instead of
paying for schools, hospitals, climate action or other essential
services."


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