The Philippines is devastated as much by unfair debt as typhoon Haiyan | Tim Jones | Gl... - 0 views
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Danny OCallaghan on 23 Dec 13"By Christmas Eve, the Philippines will have spent $1bn (£0.6bn) paying foreign debts in the seven weeks since typhoon Haiyan devastated much of the country. It will have spent a total of $8.4bn on foreign debt in 2013, and faces a further $8.8bn in 2014. While a little more than $100m has been pledged by international donors for relief work, more than 800 times that amount of money leaves the country every year to pay debts"