After last week’s ACFM on the meaning and morality of personal debt, Keir and Nadia zoom out to the macroeconomics of debt.

Joining them to make sense of concepts like sovereign debt, structural adjustment and international ratings agencies is Heidi Chow, executive director of Debt Justice. She explains how and why countries borrow money, why Global South countries end up mired in debt, and how the climate crisis will affect national borrowing.

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