Egypt currently owes nearly £100 million ($160 million) to the UK.
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It was particularly relevant then that this morning's sessions, which focussed on lessons for Europe from the global South, looked in some detail as to how the 'Third World debt' crisis had been created and prolonged by all manner of 'bail-out' and restructuring packages. We heard from representatives from Peru, the Philippines, Brazil, Morocco, Argentina, and Zimbabwe (virtually), who showed how their debt crises were used to force detrimental policies on their countries by institutions like the International Monetary Fund, which set back their economies for decades.
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"It was particularly relevant then that this morning's sessions, which focussed on lessons for Europe from the global South, looked in some detail as to how the 'Third World debt' crisis had been created and prolonged by all manner of 'bail-out' and restructuring packages. We heard from representatives from Peru, the Philippines, Brazil, Morocco, Argentina, and Zimbabwe (virtually), who showed how their debt crises were used to force detrimental policies on their countries by institutions like the International Monetary Fund, which set back their economies for decades. "
Jubilee Debt Campaign UK : Education Resources : Getting into Debt - 0 views
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