tag@treatmentactiongroup.org
Debt and Its Impacts on TB and HIV Investment

CONTACT: Erin McConnell, erin.mcconnell@treatmentactiongroup.org

November 18, 2025 — Public financing and domestic resources for health are straining under debt burdens as countries struggle to build up domestic revenues in the face of weak tax systems and volatile markets. Presently, over a third of all countries spend more on debt than on health with the Global South spending an average of 35% of national budgets on debt servicing and interest compared to 7% on health spending. This has created immense stress on countries’ abilities to invest domestic revenues in public health and research programs — straining healthcare systems and reducing critical global investment in health R&D, infrastructure, staff, and supplies.

Since 2024, Treatment Action Group (TAG) and Partners In Health (PIH) have been investigating how debt and the rules of the international financial system impact the health sector, particularly investments in TB and HIV programs. Our previous work lays the groundwork for ongoing and future evidence generation, partnerships with affected communities worldwide, and advocacy campaigns to re-build our financial system at the local, national, and international levels to prioritize investments in health and realize the end of TB and HIV.

We’re building a network of allied groups in global health, development, and equity advocacy who want to learn more about how the global financial architecture impacts health, and how we can advance economic justice reforms to build a healthier world for everyone, everywhere.

Sign up to follow along and join us here!

Recommended reading from PIH and TAG:

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