These debt numbers don’t add up

But then given the source we didn’t really expect them to:

Debt payments by the 50 countries most vulnerable to the climate crisis have doubled since the start of the coronavirus pandemic and now stand at their highest level in more than three decades, campaigners have warned.

The Debt Justice charity said countries at the highest risk of being affected by global heating were paying 15.5% of government revenues to external creditors – up from less than 8% before Covid-19 and 4% at their lowest recent point in 2010.

The report is here and - at least as far as we can track the numbers back - they’re comparing all foreign debt payment with government only revenues. Which is very apples and oranges. The government does not have to pay for privately contracted debt so a comparison with government revenues is meaningless. But, well, if you want to count up to big and scary numbers that might be what you have to do.

However, basic numeracy aside there’s a much more interesting point here. Which is that the list of the 50 climate vulnerable countries is a pretty good recount of the 50 poorest places on Earth. Which gives us a plan to deal with climate vulnerability - economic growth.

Which is excellent, so we should be lending lots to, investing more in, those poor places so that they can grow and become less vulnerable to climate change.

Sounds like a plan to us, economic growth for the win.