New debt creating export fund condemned by Spanish civil society

(ODG and Eurodad, Madrid, 22 June 2010) The Spanish Parliament this month approved a law to set up a new Fund for providing export finance support to Spanish companies investing in developing countries. According to the campaign “Who owes Whom?” the new law will contribute to worsening the debt crisis for countries in the global South, build up more illegitimate debt and contribute to the accumulation of ecological and climate debt.