In Paris today, financial officials from many of the world’s richest countries will meet to discuss whether the countries affected by last month’s tsunami should be temporarily relieved of paying off billions of dollars in debt payments. According to the World Bank, the affected nations owe hundreds of billions in debt. Indonesia owes $132 billion. India owes just over $100 billion. Thailand owes $60 billion and Malaysia owes $50 billion. According to the Jubilee Debt Campaign, the money spent by Indonesia on one day’s debt repayments, could instead pay for 100 much-needed aid flights. The Jubilee campaign has long called for the cancellation of all debt payments.

Noreena Hertz, who wrote The Debt Threat, recently noted that in Sub Saharan Africa some 15,000 children die every day from poverty related diseases. Yet still the governments are required to pay out some $30 million every day to the World Bank, the IMF and rich world creditor nations. According to Hertz. every one dollar that is given to that region in aid one and a half dollars goes out to cover debt repayments.