Global South Forced to Choose Between Creditors and Children

Global South Forced to Choose Between Creditors and Children

A new report by UNESCO shows that 113 countries spend more on servicing debt than educating their people. In low-income countries, debt payments are nearly four times education expenditure. The report highlights the challenges faced by the Global South in balancing their financial obligations with the need to invest in education. The situation is particularly dire in 18 of the most heavily indebted countries, where debt payments account for nearly 80% of education expenditure. The report calls for a fundamental shift in the global financial order to prioritize education and human development over debt servicing.