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Sunak will have to increase taxes or cut public spending to keep national debt pledge

Rishi Sunak is facing the prospect of having to ditch his pledge to get the national debt falling or else will have to increase taxes or cut public spending this autumn instead.

United kingdomJeremy huntSajid javidPhilip hammondTim pittJulian jessopInstitute of economic affairsOffice for budget responsibilityRishi sunakPrime ministerBudget responsibilityMarch budgetFlint globalEconomic affairsTim pittRishi sunak

165 Million People Plunged into Poverty Due to Debt Servicing, says UNDP

165 Million People Plunged into Poverty Due to Debt Servicing, says UNDP
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New yorkUnited statesGeorge gray molinaAchim steinerUnited nations development programmeUn crisis response groupHuman costSocial protectionDebt servicingResponse groupGross domestic product

UN agency calls for debt pause option as poverty rates rise

A United Nations agency urged global finance ministers to give poor countries debt repayment breaks, estimating the COVID-19 pandemic and subsequent surge in inflation and borrowing costs had pushed an extra 165 million people into poverty. The U.N. Development Programme said the jump meant more than 20% of the world's population - around 1.65 billion people - were now living on less than $3.65 a day and struggling to put food on the table. Group of 20 finance ministers meeting in India next week will discuss tackling poverty, along with reforming the world's top multilateral institutions and the international debt architecture.

City ofUnited kingdomMarc jonesEmma fargeAntonio guterresAchim steinerDebt service suspension initiativeUn development programmeUnited nationsGeneral antonio guterresDebt servicingUn development programmeDebt repaymentUnited nations agencyDebt burden

UNDP: 165 mln fell into poverty between 2020 to 2023

Over the past three years, poverty rates in poor countries have surged, with the number of additional individuals living on less than dlrs 3.65-a-day reaching 165 million by 2023.

Achim steinerUnited nations development programHuman costSocial protectionDebt servicing

UN: 165 million people fell into poverty between 2020 to 2023

With the number of additional individuals living on less than $3.65-a-day reaching 165 million by 2023 according to a new policy brief from the United Nations Development Programme (UNDP) titled “The Human Cost of Inaction: Poverty, Social Protection and Debt Servicing, 2020–2023”.

United nations development programmeHuman costSocial protectionDebt servicing

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