Caribbean churches call for debt relief in response to disasters
• Urgent call for debt relief after one of most devastating hurricane seasons in history • Damage in Dominica from Hurricane Maria estimated at 330% of GDP Representatives of Churches…
We’re in Mozambique to help tackle the UK’s role in the debt crisis
This week in Mozambique: campaigners and civil society organisations are holding a conference to discuss debt justice, ensure the Mozambique people do not pay for the hidden loans, and to…
African Finance Ministers call for greater transparency of PPPs
Finance Ministers of low income Francophone countries have called for a range of measures to ensure the costs of Public-Private Partnerships (PPPs) are transparent. In a communique at the IMF…
Hidden debts contribute to crisis in Congo
Questions still to be answered about scale of hidden debts and who loans were from Congo and Chad both cannot repay, but negotiations complicated by loans backed by oil The…
Campaign improves IMF debt assessments, but risk of crises continues to increase
The IMF and World Bank have agreed some positive changes to their system for monitoring debts of impoverished countries, though some large issues have been ignored. The system, known as…
Indebted Caribbean islands need urgent debt relief
As the devastation from recent hurricanes in the Caribbean becomes clearer, the calls for debt relief for affected countries grows stronger. In Dominica, 98% of the buildings are damaged, with…
Ghana’s debt crisis worse than IMF expected, as lenders continue to profit
The IMF has completed the fourth review of its programme in Ghana, agreeing to disburse a further $95 million of loans, taking total loans to $565 million. The IMF has…
Release of audit raises huge questions over $2 billion loans to Mozambique
A condition of Credit Suisse to get the loans signed off by the Bank of Mozambique was dropped in order for the loans to be given Credit Suisse and VTB…
France passes law to clip vulture funds’ wings
Companies prevented from seeking large profits on debts they bought when a government could not pay. France has passed a law to prevent vulture funds or other creditors from seeking…
IMF refuse to cancel Haiti debt as hurricane not ‘catastrophic’
The damage caused by Hurricane Matthew in October has led the IMF and World Bank to assess Haiti as being at high risk of not being able to pay its…
