Spain wants ‘pause clauses’ in debt repayments for disaster-hit nations

This would mean that any developing country hit by droughts, floods or hurricanes could suspend its debt payments while it recovers. Extreme weather events are on the rise due to climate change. Floods in the tropics have increased fourfold since the 2000s. Globally, droughts have become a third more common in the past 20 years. These natural disasters can trigger a debt spiral, says Spain even in countries that are otherwise financially prudent.