CBS Albany Discusses Jubilee USA's New York debt bill to tackle developing countries' debt crises and address supply shocks. Read an excerpt below and click here for the full story.
Assemblymember Fahy introduces NY taxpayer and international debt crises protection act
By WRGB Staff
Albany, NY (WRGB) — Assemblymember Fahy is introducing the New York taxpayer and international debt crises protection act
It requires private creditors to join debt relief initiatives for developing nations, which are struggling with debt crises, the pandemic and economic shock from the war in Ukraine.
The bill prevents tax money that funds u-s contributions to debt relief initiatives from being used to bail out private creditors and enables countries that are in debt to support spending on health, education and other services for their most vulnerable.
See the article here.