George Soros Instagram – Many countries worldwide have responded to economic losses induced by the coronavirus pandemic by taking on debt. While this solution has provided short-term relief for citizens, for low- and middle-income countries like South Sudan, taking on unsustainable levels of sovereign debt could in the long term thwart access to capital markets and compel these governments to decrease their funding of essential public services and redirect relief from urgent priorities such as the climate crisis. Unless a more effective path to recovery emerges and global debt architecture is reformed, debt-distressed countries will be further ensnared and inequality will persist.
To address this challenge, the Open Society Foundations and its partners are embarking on an effort to reform this system and make changes that will prioritize economic justice and a just recovery. Please follow the link in bio to learn more.
Community health workers study coronavirus prevention in Juba, South Sudan, on August 18, 2020. © Charles Atiki Lomodong/AP/Shutterstock | Posted on 19/Apr/2021 22:03:34
