There is widespread concern that high debt burdens in many Global South countries, especially those most vulnerable to economic and climate shocks, is crowding out social and climate spending. Where countries have defaulted, there are concerns that debt relief has been neither deep enough nor quick enough. In response, there have been a number of calls, including from the UK Parliament’s International Development Committee in 2023, for the UK to pass new legislation (a ‘debt justice law’) that would influence the behaviour of private creditors during debt restructuring processes. In November 2024 a Private Members' Bill, the Debt Relief (Developing Countries) Bill 2024, was introduced to Parliament. […]