Who Pays When Countries Fall into Debt?

When countries fall into debt, who actually pays the price? In this episode, we talk to Matthew Martin, a passionate advocate for debt relief and inequality, who shares his personal journey from experiencing apartheid in South Africa to becoming a leading voice in the fight against global debt crises. Matthew discusses the intricate relationship between debt and inequality, highlighting how high debt burdens disproportionately affect poorer citizens and hinder social spending. Right now, 5.2 billion people live in countries that spend more money paying back debt than they do on schools, hospitals, or climate action . We break down how that happens, why global financial markets get away with charging eye-watering interest rates, and why governments are so often pushed to cut public services instead of standing up to creditors. He reflects on the success of the Jubilee debt cancellation campaign and the lessons learned, emphasizing the need for structural change in the global financial system to prevent future crises. With insights into the current state of debt across the globe, Matthew calls for a renewed popular movement to prioritize debt relief and tackle inequality. This is a clear, grounded conversation about debt, inequality, and who the global economy is really built for — and why things don’t have to stay this way. If you enjoy the episode, please like, share, comment, and leave us a review.

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Who Pays When Countries Fall into Debt? is an episode from EQUALS by EQUALS.

This episode is 30:24 long.

This episode was published on Feb 10, 2026.

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