Groundhog Day looms in Argentina as the IMF returns
A decade of IMF conditionality and adjustment sparked Argentina’s 2001 debt default and economic earthquake, and it was expelled from the country in 2006. Yet the country’s new government has…
Mozambique’s secret loans: A scandal that started in London
Tuna fishing ships and military patrol boats are currently sitting dormant, docked in the capital of Mozambique, Maputo. Together, these boats provide a daily physical reminder of the ongoing political scandal that…
Legalised looting: Public Private Partnerships and financial extraction
When it comes to infrastructure – roads, railways, power plants, ports and the like – the policy prescriptions from the World Bank and other international financial institutions sound like a…
Eurozone ‘debt relief’ proposals for Greece would have little impact
The Eurogroup of Eurozone Finance Ministers has finally agreed to begin discussions on debt relief for Greece. However, initial proposals developed by the European institutions do little to address Greece’s…
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…
