ECB to make between €10 and €22 billion profit out of loans to Greece
The European Central Bank and its member national central banks are on track to make between €10 billion and €22 billion of profit out of lending to Greece, if Greece…
External debt is a cancer to Nepal. Cancel it now!
Earthquake-hit Nepal’s debt stands at $3.8 billion. Writing off its loans will go a long way in helping it to recover, says former Nepali MP Sunil Pant. I would like…
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…
Glossary of terms
List of terms: Bailout Bank recapitalisation Bond and bondholder Bridge loan Collective Action Clause Concessional loan Debt relief/restructure/cancellation/haircut/swap/write-down/work-out Debt haircut Debt relief Debt restructuring Debt service Debt swap Debt stock…
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…
The Big Give Christmas Challenge
Thank you so much to everyone who donated to our Big Give Christmas Challenge! We doubled the maximum possible number of donations, getting £9,500 doubled to £19,000. And with Gift…
Vulture funds: Why the UK voted ‘no’ to action at the UN – dissected
More than 700 people have written to their MP to ask why the UK government voted against action on vulture funds at the United Nations in September. Many have now…
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…
