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Articles on Debt

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Keeping what is not rightfully one’s own reveals a lack of integrity and kindness. Mohammed Asad/Anadolu Agency/Getty Images

What are the ethics of giving back money that doesn’t belong to you?

Charles Schwab mistakenly transferred over $1.2 million to the account of a woman who then kept the money. Did she have a moral obligation to return it? An expert says the answer is not that simple.
A child plays in a street in the port village of Paquitequete near Pemba, northern Mozambique. The region suffered decades of neglect, and major gas projects have failed to deliver local benefits. Photo by Alfredo Zuniga/AFP via Getty Images

Mozambique’s difficult decade: three lessons to inform next steps

The development strategy based on foreign investment in natural resources projects has not delivered economic growth or security. What’s needed is an inclusive vision based on local realities.
How quickly people recover financially from the COVID-19 crisis,or lose the gains they made, may depend on their level of financial literacy. (Shutterstock)

Especially after COVID-19, Canadians need better financial literacy and teachers can help

Teaching financial literacy requires more than adding financial literacy to kids’ school curriculum. It also means offering teachers professional development to ensure they’re equipped.
A person sits on a tripod platform high above the street as protesters occupy an intersection during a demonstration to call for government action to on climate change in Vancouver in February 2021. THE CANADIAN PRESS/Darryl Dyck

Climate action, job creation are top post-pandemic priorities for Canadians

As Canada emerges from the pandemic, creating jobs and achieving full employment are top priorities. Relegated to the back burner are balanced budgets and reducing debt.
PM Boris Johnson (left) and Chancellor Rishi Sunak have come up with money to underwrite wages, rescue packages and meal vouchers during the pandemic. Jonathan Brady/PA Wire/PA Images

How countries are raising debt to fight COVID and why developing nations face tougher choices

Developing countries face greater risks raising money to deal with the pandemic. Zambia is now on the verge of being the first ‘COVID default’ and other developing countries could follow suit.
Far from saving for a rainy day, governments are seriously indebting our children and future generations due to profligate overspending. Ben Wicks/Unsplash

Huge government debts mean Canada is robbing its kids

Canadian governments are failing to treat future citizens fairly by saddling them with huge debt. What policies should Canadian governments enact that offer greater fairness to future generations?
Bank of Canada Gov. Tiff Macklem speaks during a news conference at the Bank of Canada on Sept. 10, 2020 in Ottawa. THE CANADIAN PRESS/Adrian Wyld

The throne speech: Fiscal prudes are fretting about the wrong issues

While those on the left, right and middle worry about the federal deficit, the real world that we live in is in trouble. The fiscal prudes are fretting about the wrong issues.
Prime Minister Justin Trudeau looks on as Finance Minister Chrystia Freeland responds to a question during a news conference on Parliament Hill in August 2020. THE CANADIAN PRESS/Adrian Wyld

The throne speech must blaze a bold new path — including imposing a wealth tax

The speech from the throne is just around the corner. Will the Liberal government make broad and much-needed economic and social change amid the pandemic, or will it give in to the wealthy again?
South Africa’s finance minister Tito Mboweni says the IMF loan will limit the country’s economic vulnerabilities which have been exacerbated by COVID-19. Gallo Images/Brenton Geach

The IMF’s $4bn loan for South Africa: the pros, cons and potential pitfalls

The IMF loan does not impose any conditions over and above what is in South African law on how the funds can be used; it only seems to expect the country to implement policies already announced.
Haitian President Jean-Pierre Boyer receiving Charles X’s decree recognizing Haitian independence on July 11, 1825. Bibliotheque Nationale de France

When France extorted Haiti – the greatest heist in history

After enduring decades of exploitation at the hands of the French, Haiti somehow ended up paying reparations – to the tune of nearly $30 billion in today’s money.
People wearing protective masks form lines to receive free food from a food pantry run by the Council of Peoples Organization on May 8, 2020 in the Midwood neighborhood of Brooklyn, New York. Andrew Lichtenstein/Corbis via Getty Images

Coronavirus-related debt will live in digital profiles for years – hurting Americans’ ability to get jobs, apartments and credit

For economically strapped Americans, the financial fallout from the epidemic may be permanently embedded in their digital profiles, making it harder for them to regain their economic footing.

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