By Herman Kumara | Praja Abhilasha, Sri Lanka Sri Lanka was known worldwide as the pearl of the Indian Ocean, but that pearl has shattered into pieces thanks to almost 3 decades of civil war followed by the current food, fuel, energy, and finance crises. And the crises culminated in the April 2022 declaration of… Read more »
March 10, 2023
Sri Lanka, the Shattered Pearl of the Indian Ocean
By Herman Kumara | Praja Abhilasha, Sri Lanka Sri Lanka was known worldwide as the pearl of the Indian Ocean, but that pearl has shattered into pieces thanks to almost 3 decades of civil war followed by the current food, fuel, energy, and finance crises. And the crises culminated in the April 2022 declaration of… Read more »
By Aldo Caliari | Jubilee USA As developing countries face mounting global economic shocks and a deteriorating growth scenario, the concern that we may be on the brink of a chaotic series of debt crises has become more real. The role of private creditors – investment funds, private equity funds, commercial banks and other firms… 
By Aldo Caliari | Jubilee USA The pandemic-induced global economic crisis reversed years of progress in reducing poverty and hunger worldwide. Crushing debt burdens in developing countries are a crucial factor amplifying the impacts and limiting their capacity to respond. According to the International Monetary Fund (IMF), 60% of the poorest countries, and one-third of… 
By Eileen Schuhmann | Presbyterian Hunger Program Staff Debt is a root cause of hunger and poverty. Global debt (which includes borrowing by governments, businesses and people) surpassed $300 trillion in 2021, a record $77 trillion increase from 2020, which the International Monetary Fund cautions is at dangerously high levels.[i] This extraordinary borrowing has stemmed…