Join Debt for Climate and friends for a demonstration on April 29th at 8:30 outside the UN ECOSOC Forum on Financing for Development at Dag Hammarskjöld Plaza.

The Global South is facing a historic debt crisis, with over 70 countries at risk of default or debt distress. Over 60 countries are spending more on debt than on healthcare, and 25 countries spend more on debt services than on education, health, and social protection combined.

This week, the United Nations is hosting the Fourth Preparatory Committee session towards the Fourth Financing for Development Conference, which will occur in Spain in July 2025. Representatives will gather to continue working on the outcome document for this conference, which will help set the roadmap for the next several years of development cooperation in finance, including reforming the international financial architecture and addressing finance challenges preventing the urgently needed investment push for the Sustainable Development Goals.

There is no comprehensive multilateral debt resolution framework through which heavily indebted Global South countries can restructure their payments and obtain relief. A fair, democratic solution is needed.

We call for the establishment of a multilateral legal framework under the auspices of the UN that would comprehensively address unsustainable and illegitimate debt, including through extensive debt cancellation.

Please bring signs and banners that relate to our demands!