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174

Developing countries spend more repaying foreign debt than on education, UN reveals (www.theguardian.com)

submitted 3 days ago* (last edited 3 days ago) by MicroWave@lemmy.world to c/world@lemmy.world

12 comments fedilink hide all child comments

Unesco report shows children lost out to servicing debt in 113 countries, with 18 spending five times more on loans

education than they did repaying debt last year, according to the UN, at the same time as global aid to education is predicted to decline by up to 30%.

More was spent on servicing foreign debt than on education in 113 developing countries in 2025, according to research by the UN’s culture and education agency, Unesco. In sub-Saharan Africa, countries spent 3.6 times more on debt than education.

The situation is likely to be exacerbated by funding cuts, the agency warned. Low- and lower-middle-income countries have already lost 21% of the aid to education they were receiving in 2023 and could lose up to 30% by 2027. Some countries – including Afghanistan, Mali, Niger and Liberia – have already lost more than 40% in three years.

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[–] AmyAye@nord.pub 18 points 2 days ago (2 children)

The west literally does the same but on a personal scale to its own people.

Its expensive to be poor.

By design.

[–] apfelwoiSchoppen@lemmy.world 8 points 2 days ago

The west does this to Africa too, China is merely playing catchup to this awful scheme.

[–] cheese_greater@lemmy.world 4 points 2 days ago (2 children)

The credit system basically IS the Social Credit System

[–] Ghoelian@piefed.social 8 points 2 days ago

I don't think many countries besides the US have a credit system, at least not nearly the same.

In the Netherlands for example, there is a credit system, but the only thing that's tracked there is if you pay on time, and all someone can request from this registration is if you're in good standing or not. This also pretty much only applies to loans and mortgages and stuff, credit cards also aren't really a big thing here.

[–] Drusas@fedia.io 2 points 2 days ago

The US credit system is designed to favor the well-off and entrench poverty in everyone else.