MPs inquiry calls for end to Dodgy Deals
A cross-party group of MPs has released a report into UK Export Finance – or what we call the Department for Dodgy Deals. The report, covered on the front page…
States of Jersey legislate against vulture funds
The parliament of Jersey, known as the States, has today passed legislation to limit the ability of vulture funds to sue some of the world’s most impoverished countries in the…
Greece on the brink as bailout and austerity cycle deepens
The social and economic crisis in Greece is continuing, as the country votes on more cuts demanded by the Troika in return for a new bailout loan. The ‘Troika’ of…
Open letter from Nobel Peace Prize winner over Vulture Fund dispute
Argentine organisations – led by Nobel Peace Prize winner Adolfo Pérez Esquivel – have denounced the violation of sovereignty and the illegitimacy of the debt claimed by vulture fund NML…
US court verdict on Argentine debt could cause chaos
A US court ruling in favour of vulture funds may force Argentina to either pay-up on unjust debt, or default on its loans to all creditors. In 2001 Argentina defaulted…
Laos’ ‘debt distress’ eases so will get fewer grants and more loans
The IMF have reclassified the Laos government as being at moderate rather than high risk of not being able to pay external debts. The change is not due to any…
Crown dependencies introducing vulture fund bills
The parliaments of Jersey, Guernsey and the Isle of Man are all discussing legislation to prevent vulture funds suing Heavily Indebted Poor Countries for inflated claims on old debts. Laws…
Ecuador to help Tunisia audit debt
The Tunisian government has asked Ecuador for advice on conducting an audit into debts inherited from the Ben Ali regime. The Ecuador government will be sending a mission to Tunisia…
Sierra Leone debt creeping up
Sierra Leone’s government external debt payments are increasing. The IMF estimates they will account for between 7 and 9 per cent of government revenue between 2012 and 2017; $30 million…
Two-thirds of Guinea’s debt to be cancelled
The International Monetary Fund and World Bank have announced that the West African country of Guinea will get $2.1 billion of debt cancelled. This amounts to around two-thirds of the…
