If G7 nations expect Global South support for the Ukraine War, they must give something back in return says Max Lawson, Head of Inequality Policy at Oxfam.
Lawson says the G7 needs to cancel Global South debts, end hunger and pay up for climate damage.
Lawson spoke out after the G7 met in Hiroshima last week.
“They failed to cancel debts and they failed to find what is really required to end the huge increase in hunger worldwide.
“They can find untold billions to fight the war but can’t even provide half of what is needed by the UN for the most critical humanitarian crises.”
If the G7 really want backing for the war in Ukraine, they have to go about it differently, Lawson said.
He noted Global South countries are being crippled by a food and debt crisis of huge proportions.
“Countries are paying over US$200 million a day to the G7 and their bankers, money they could spend feeding their people instead.”
Pope Francis is likewise concerned.
Last week he asked the G7 to seek “responsible multilateral cooperation.”
He asked for an integral global security “capable of embracing issues including access to food and water, respect for the environment, health care, energy sources and the equitable distribution of the world’s goods.”
Some statistics
Over half of all debt payments from the Global South are going to the G7 or to private banks based in G7 countries.
Over US$230 million dollars a day is flowing into the G7.
Countries are bankrupt, spending far more on debt than on health or food for their people.
Debt payments have increased sharply as Global South countries borrow in dollars; rising interest rates supersede their debt repayments.
Climate Change
Another G7 failure is that its policies damage the world’s weather systems.
It owes the Global South US$8.7 trillion for the losses and damages its carbon emissions cause, Lawson said.
While the G7 Hiroshima communique said they recognised the new Loss and Damage fund, they failed to commit a cent to it.
“It is good they continue to recognise the need to meet 1.5 degrees and stay committed to this despite the energy crisis driven by the war in Ukraine, but they try to blame everyone else.
“They must stop using fossil fuels immediately – the planet is on fire.”
Source
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