Debt and Kenya’s economic crisis
Last month there were huge protests against tax rises in Kenya. The tax increases, including sales tax on essentials such as bread and cooking oil, were proposed in response to…
Private lenders: Why their arguments against a new law don’t stack up
Banks, hedge funds and asset managers have been lobbying vigorously against proposals to ensure private lenders take part in debt relief. They are using exactly the same arguments as 15…
Responses to our ‘Stop cowboy lenders’ campaign
Debt Justice supporters have been writing to their MPs asking them to support our ‘Stop Cowboy lenders’ campaign, and pass legislation requiring private lenders to take part in debt relief.…
We still need a debt jubilee: 25 years on from the Birmingham human chain
Twenty-five years ago today, as a wide-eyed 16 year old, I went on my first ever protest. Travelling to Birmingham with a group from my church, we joined 70,000 others…
Stop cowboy lenders and end the global debt crisis
This year Pakistan will spend over $20 billion on debt payments to big banks and hedge funds. Right now, the country is struggling to rebuild after horrendous flooding last year,…
Germany’s debt cancellation: The London debt accords
On 27 February 1953, an agreement was signed in London which resulted in the cancellation of 50 per cent of the debt owed by Germany (represented by West Germany); 15…
Reaction to IMF call for $8.4bn of Zambia debt payments to be cancelled
The IMF has released its Debt Sustainability Assessment for Zambia.[1] The documents say that $8.4 billion of debt payments needs to be cancelled by government and external private creditors between…
Negotiations on debt relief for Zambia finally set to begin
Over the weekend, China, the UK and other government lenders agreed to negotiate a debt restructuring with Zambia. The move was met with headlines such as “China agrees landmark debt…
The Mozambique Debt Scandal: the storm before the storm
Mid-January 2022, Storm Ana raged through southwest Africa, leaving a trail of devastation and loss of life in Malawi, Madagascar and Mozambique. With extreme weather events likely to occur more…
Growing global debt crisis to worsen with interest rate rises
New figures released today by Jubilee Debt Campaign show that developing country debt payments have increased 120% between 2010 and 2021 and are higher than at any point since 2001.…
