‘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 $760 million, which was not agreed by Mozambique parliament, and which has been of no…
O negócio “ultrajante” da dívida de Moçambique pode gerar lucro de 270% aos especuladores
• O povo moçambicano poderá pagar entre US$ 1,7 bilhão a US$ 2,2 bilhões por um empréstimo original de US $ 800 milhões, sem o escrutínio da Assembleia da República,…
Chad at high risk of another debt default after restructuring
• Restructuring of Glencore loans reduces interest rates and extends maturity by four years • IMF accepts minimum needed to make debt ‘sustainable’, while country remains at high risk of…
Global South debt crisis worsens as interest rates rise and currencies fall
Currencies fall by average of 9% against the dollar in 2018 Future borrowing costs up 1.4 percentage points Future borrowing costs for many global South governments have continued to rise,…
Ukraine’s ‘odious debt’ defence of $3bn Russian default goes to UK court
The English Court of Appeal has overturned a previous ruling and said that Ukraine’s “duress” defence of its non-payment of a $3 billion debt to Russia can go to a…
Sierra Leone President appeals for help over debt burden
• New President Julius Maada Bio says he has inherited a debt crisis • 73% of Sierra Leone’s debt is owed to multilateral institutions • Jubilee Debt Campaign warned that…
Ghana’s debt situation worsens as lenders continue to be bailed out
• IMF projections for debt, revenue and interest all over-optimistic • But public spending cut by more than initially planned • Debt crisis expected to continue for next twenty years,…
We still need a debt jubilee: 20 years on from the Birmingham human chain
Twenty 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…
UK willing to back loans to Malaysian government for weapons
Proposal for Eurofighter exports takes no account of 1MDB scandal where Malaysian government guarantees were used to embezzle loans 1MDB loans were given under UK law – critics of Malaysian…
Mozambique proposes paying secret debts in a decade
Hints that if creditors do not agree, legality of the debt may become an issue Bondholders reject proposal, but no creditor has taken legal action on defaulted debts In a…
