Debt relief as a driver for development

Many countries in the South have been heavily indebted for decades, and are forced each year to pay back significantly more money to the rich countries in the North and to the international financial institutions, such as the International Monetary Fund and the World Bank, in the form of interest payments than they can devote to social expenditure on health and education. For many years, Fastenopfer has campaigned for the cancellation of these unpayable debts, which greatly hinder the development potential of these countries. Debt relief forms an important part of the debate around the Millennium Development Goals.