Shine a light on loans to governments: MP briefing
This one-page briefing summarises our campaign to make loans to governments transparent, including the measure the UK parliament can pass to make this happen.
Can Mozambique declare the $2 billion secret debts illegal?
In recent weeks there have been several arrests in Mozambique connected to the $2 billion secret loan scandal. This could indicate that the Mozambique government is now more willing to…
What we have learned from the US indictment on odious loans to Mozambique
Yesterday three former employees of Credit Suisse were arrested in London over $2 billion of odious loans to three state owned companies in Mozambique, given in 2013. The loans were…
Developing county borrowing costs increase 7 times more than US in past year
Interest rates on new developing country borrowing increased by an average of 2.2 percentage points over the course of 2018. Yields on low- and lower-middle income country debt, calculated by…
Sierra Leone: Ebola debt to IMF contributes to big cuts in public spending
In November the IMF agreed a new $172 million loan programme with Sierra Leone, spread over the next 3 and a half years, until mid-2022. At the same time, the…
G20 stops short of decisive action on lending transparency
UK Prime Minister calls for implementation of 2017 guidelines But UK government itself has been unwilling to implement these limited guidelines for loans from UK-based banks and companies G20 governments…
Our view on the UK government response to our campaign on secret loans
John Glen MP, Economic Secretary to the Treasury, has replied to MPs about our campaign to stop secret loans. We are calling for measures to ensure all loans to governments…
Vulture funds and governments seek profit from Sudan debt relief
Today the Financial Times has reported that a group of vulture funds have hired lawyer Lee Buchheit to argue for debt relief for Sudan. They hope that if the North…
Mozambique campaigners launch scathing criticism of UK regulator
Leading civil society organisations in Mozambique have launched a scathing attack on the UK’s Financial Conduct Authority for dropping its criminal investigation into Credit Suisse over secret loans given in…
‘Outrageous’ Mozambique debt deal could make 270% profit for speculators
• People of Mozambique to pay $1.7 billion to $2.2 billion on original loan of $760 million, which was not agreed by Mozambique parliament, and which has been of no…