Ed Miliband proposes debt relief and crisis financing reforms in Bangkok speech
The UK foreign secretary called for longer debt repayment periods, better refinancing rates and earlier financing for countries facing crises.
UK Foreign Secretary Ed Miliband proposed changes to developing-country debt and crisis financing at a Rockefeller Foundation event in Bangkok on 14 October 2026, saying countries need more room to manage debt and withstand shocks.
Debt relief and crisis financing proposals
Miliband called for longer debt repayment periods and refinancing at better rates. He also proposed more private investment, advance financing for crises and stronger support for fragile states. The UK will convene an international summit on illicit finance in 2027, he said.
The Guardian reported that the UK is due to take up the G20 presidency in 2027. Debt Justice policy director Tim Jones said private lenders should share the cost of debt relief so public money is not used to bail them out.
Sources and context
- Foreign Secretary, Ed Miliband, speech: A global financial system that works for all – action on debt, investment and resilienceUK Foreign, Commonwealth & Development Office
- Global financial system is failing developing countries, says Ed MilibandThe Guardian
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