{"id":1537,"date":"2015-05-21T10:59:32","date_gmt":"2015-05-21T09:59:32","guid":{"rendered":"http:\/\/www.jubileescotland.org.uk\/?page_id=1537"},"modified":"2015-05-21T11:22:11","modified_gmt":"2015-05-21T10:22:11","slug":"debt-cancellation-for-nepal","status":"publish","type":"page","link":"https:\/\/www.jubileescotland.org.uk\/campaigns\/debt-cancellation-for-nepal\/","title":{"rendered":"Debt Cancellation for Nepal"},"content":{"rendered":"
Photo Credit:ReSurge International\/Flickr<\/p>\n
Even in the wake of two devastating earthquakes Nepal is expected to continue making payments towards its $3.5 billion in external debts.\u00a0Of this $3.5 billion in external debt, $1.5 billion is owed to the World Bank and $1.4 billion to the Asian Development Bank, together amounting to over 80% of the total debt.<\/p>\n
According to the IMF, Nepal will spend $210 million on debt payments in 2015, and a similar amount in 2016 and 2017.<\/p>\n
Jubilee Scotland has joined with the\u00a0Asian People\u2019s Movement on Debt and Development, Rural Reconstruction Nepal and over 30 organisations from the region<\/a> in calling for the immediate and unconditional cancellation of Nepal’s debt.\u00a0<\/p>\n Act Now: Call on the UK Director at the Asian Development Bank to cancel 100% of the debt claimed from Nepal.<\/strong><\/p>\n\n