UK pushes Pakistan, Indonesia and the Gambia into more debt
The UK government has backed loans to Pakistan, Indonesia and the Gambia without conducting any assessment of their impact, or the ability of the countries to repay. The revelations come…
The debt stories they don’t want you to know
I sometimes get asked, ‘If all countries are in debt, then who are they in debt to’? It’s a good question. Have we discovered life on another planet, who are…
UK government to give ‘aid’ as loans
Bilateral lending to come on top of aid already given as loans through the World Bank and others.
A chance meeting with Vince Cable to argue over unjust debts
I bumped into the Business Minister whilst cycling through South London. Cycling to my Econowhat? reading group through Stockwell in South London last week, my eyes were drawn to the…
Argentine ship ordered to be released from Ghana
A tribunal in Hamburg has decided on Saturday that the Argentine navy ship seized in Ghana, the ARA Libertad, should be released back to the South American country. The ARA…
Indonesians paying £20 million for weapons used in repression
By 1 December 2012, the Indonesian people are due to pay the UK government £27 million. Of this, £20 million is for arms sales to past dictator General Suharto. In…
States of Jersey legislate against vulture funds
The parliament of Jersey, known as the States, has today passed legislation to limit the ability of vulture funds to sue some of the world’s most impoverished countries in the…
US court verdict on Argentine debt could cause chaos
A US court ruling in favour of vulture funds may force Argentina to either pay-up on unjust debt, or default on its loans to all creditors. In 2001 Argentina defaulted…
Laos’ ‘debt distress’ eases so will get fewer grants and more loans
The IMF have reclassified the Laos government as being at moderate rather than high risk of not being able to pay external debts. The change is not due to any…
Crown dependencies introducing vulture fund bills
The parliaments of Jersey, Guernsey and the Isle of Man are all discussing legislation to prevent vulture funds suing Heavily Indebted Poor Countries for inflated claims on old debts. Laws…
