Reaction to operationalisation of Loss & Damage Fund at COP28
For more information and interviews contact Jerome Phelps on +44 7307 620372 The Loss and Damage Fund governing arrangements were adopted today on the first day of COP28. Heidi Chow,…
Yanis Varoufakis, Thomas Picketty, Vanessa Nakate, and leading experts call for debt cancellation at COP28
For more information and interviews contact Jerome Phelps on +44 7307 620372 More than 550 economists, development and climate experts including leading economists Yanis Varoufakis, Thomas Picketty, Jayati Ghosh, Ann…
Lower-income countries have paid out $2.7 trillion in interest payments since 1970
For more information and interviews contact Jerome Phelps on +44 7307 620372 Lower-income countries have been forced to pay out $2.7 trillion in interest payments to creditors since 1970, according…
IMF and governments express reservations about Zambia debt deal which will pay bondholders a third more than governments
Bondholders will be repaid a third more than government creditors including China and the UK under the restructuring deal agreed with Zambia, even though they lent at higher interest rates…
Artists explore the legacy of colonialism and today’s debt crisis
For more information, interviews and to confirm attendance at the launch event, contact Jerome Phelps on +44 7307 620372, Jerome@debtjustice.org.uk The exhibition ‘It’s the debt that you owe’: debt, colonialism,…
Rising debt locks global south countries in fossil fuel production
For more information and interviews contact Jerome Phelps on +44 7307 620372 Global south countries are trapped in relying on fossil fuel exploitation to generate revenue to pay debts, according…
Press Comment: Energy company profits built on the back of UK households
Responding to today’s announcement that Centrica and Shell have posted Q2 profits of £969M and £3.9bn respectively, Heidi Chow, Executive Director of Debt Justice said: “These obscene profits have been…
Reaction to IMF board approval of $3bn loan to Pakistan
For more information and interviews contact Jerome Phelps on +44 7307 620372 The IMF has agreed to disburse a loan of $3 billion to Pakistan, following other new loans from…
Banks break own rules to hide over $30 billion of loans to lower income countries
In a new briefing released today, Debt Justice reveals that multinational banks have failed to disclose over $30 billion of loans to lower income countries. In 2019, banks agreed to…
Zambia’s private creditors need to cut debt payments by more than 50%
In new analysis released today, the Zambian Civil Society Debt Alliance and Debt Justice estimate that Zambia’s private creditors need to cut the relative size of debt payments by over…