Mozambique proposes ‘tuna’ bond restructuring
Proposed terms will cut debt but increase interest rate, leaving Mozambique no better off, despite crash in commodity prices reducing ability to pay Mozambique is trying to restructure the terms…
UK government response to Debt Trap campaign
Minister of State for International Development, Desmond Swayne MP, has responded to Jubilee Debt Campaign’s No New Debt Trap campaign, calling for urgent action to prevent a wave of debt crises…
Uganda road project cancelled but debt remains
In January the World Bank cancelled a road building project in Uganda after “multiple failures … on the part of the World Bank, the government of Uganda, and a government…
Proposal for UK aid money to be used to promote western exports
The UK’s Department for International Development is considering using aid money to subsidise lower interest rates for export credits for some low income countries. Export credits are government backed loans…
Debt risks increase as commodity prices stay low
According to the IMF and World Bank, 10 low income countries have seen an increased risk of not being able to pay their debts over the last year as global…
Put on a screening of #ThisIsACoup, the story of Greece’s debt revolt
Theopi Skarlatos and Paul Mason’s #ThisIsACoup is a documentary giving the inside story of Greece’s confrontation with international finance in 2015. You can watch all four episodes for free online…
Watch #ThisIsACoup – the story of Greece’s (unfinished) debt revolt
The debt crisis in Greece was constantly in the news in 2015, as the country made a brave attempt to throw off the shackles of unjust debt. But how often…
World Bank to increase lending to impoverished countries
The World Bank is proposing to lend an additional $4.1 billion to low income countries over the next 18 months, at its standard interest rates which are usually only paid…
The Big Give Christmas Challenge
A Big Thank You to everyone who donated during the Big Give Christmas Challenge. A total of 324 people donated during the course of the Challenge, and we made it…
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,…