Commodity price crash causes debt payments to soar
Effective interest rates on World Bank loans reaching 9%, whist on private sector loans hits 27% Over recent months there has been a crash in prices for commodities – metals,…
Thin cut to debt leaves Grenada caught out
Deal with private lenders will only reduce debt by 20%. Grenada has reached a deal with private bondholders to reduce debt owed to them by up to half over the…
No deal will be worse for the Eurozone than for Greece
The current deadlock between Greece and the rest of the Eurozone is over whether Eurozone governments will lend more money to enable Greece to meet international debt payments due this…
Six key points about Greece’s debt
Greece’s election has delivered a clear rejection of Troika-imposed austerity and the EU’s approach to the crisis. Here are six key points about Greece’s debt. 1) European banks were bailed…
Aid rules tightened, but still allow profit to be made from loans
Western countries, through the OECD, have agreed new rules for themselves on when they are allowed to call loans ‘aid’. The new rules restrict the terms on which loans can…
Commodities price fall signals rise in debt payments
The fall in the price of commodities, led by oil, has led to large falls in the value of currencies in developing countries. Financial markets are betting on countries’ trade…
Details of debt relief for Ebola countries not yet agreed
G20 announces $300 million of loans, debt relief and grants from IMF, but details of how to do so are being debated over coming weeks At the G20 summit on…
Ghana in talks with IMF as debt problems deepen
Ghana is to hold negotiations with the IMF in September on a new loan programme following a fall in the currency which has increased the level of debt payments. Under…
UN experts blocked from making debt proposals
The United Nations Intergovernmental Committee of Experts on Sustainable Development Financing has identified debt sustainability as one of the key financing challenges facing countries in the meeting of new Sustainable…
Vulture funds profit from shadowy financial markets
In the wake of Argentina being blocked from making debt payments, there is much speculation about who lies behind various trades taking place in financial markets. Argentina has been declared…
