The debt and climate crises : Why climate justice must include debt justice
by Tess Woolfenden , Dr Sindra Sharma Khushal
The CADTM supports the following text, which shows the link between debt and climate crises and contributes some relevant ideas on this issue. However, we do not believe that radical changes such as debt cancellations will come from major international financial institutions such as the World Bank and the International Monetary Fund (IMF). The CADTM considers that these necessary changes will come from the people, from social movements, from a citizen public debt audits. Moreover, we do not consider the debt swaps system to be a solution and advocate for debt cancellations combined with reparations paid by former colonizing countries, imperialist ones and creditors for all the damages (including environmental ones) they have been causing in the Global South.