Baroness Bennett of Manor Castle
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Tackling Unsustainable Debt
Baroness Bennett of Manor Castle Excerpts(1 day, 17 hours ago)
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Baroness Bennett of Manor Castle (GP)
My Lords, the global South has suffered for decades, trapped under an ideology imposed from the outside of privatisation, austerity and deregulation. Will the Minister and the Government ensure that future arrangements allow an escape from that ideology towards investment in the essential systems of health, education and democratic engagement?
Lord Livermore (Lab)
That is exactly what our approach is designed to do. As I have said, multilateral action is the right way forward. The G20 common framework remains the best available tool for us to tackle debt vulnerabilities, bringing together traditional and newer creditors to co-ordinate on debt treatment, which is critical given the more diverse creditor landscape that we currently face.