In the News
New push for debt relief to help developing world fund climate action
1st December 2023
This Guardian article highlights a notable example of opportunity cost, with the news that developing economies spend twelve times as much servicing their debts as they do tackling climate change.
The most striking example of this is Indonesia which has committed 0.12% of government spending to climate change but 29% to servicing its debts.
And that is why there are increasing calls for loss and damage funds provided by the developed economies for these nations.
Graham Watson
Graham Watson has taught Economics for over twenty years. He contributes to tutor2u, reads voraciously and is interested in all aspects of Teaching and Learning.
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