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…
Scale of UK arms loans to dictators revealed for first time
Ed Davey may have misled parliament over Egypt's dictator debts
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…
Egypt blog 4: A Middle East Beanfeast
Another reason why Egypt shouldn’t be paying its odious Mubarak-era debt was highlighted by a teachers’ protest yesterday against the appalling under-investment in education here. While there is a theoretical…
