Negotiations on debt relief for Zambia finally set to begin
Over the weekend, China, the UK and other government lenders agreed to negotiate a debt restructuring with Zambia. The move was met with headlines such as “China agrees landmark debt…
Bishops demand cancellation of debts plunging countries into hunger
Anglican Bishops from around the world today united to call on the UK Government to lead the world in compelling lenders to cancel debts that are plunging communities in low…
Ghana needs debt cancellation, not private lender bailout
Ghanaian civil society organisations have called for Ghana’s debt to be cancelled, rather than an IMF loan bailing out private lenders.[1] In a statement released today they say any IMF…
African governments owe three times more debt to private lenders than China
African governments owe three times more debt to Western banks, asset managers and oil traders than to China, and are charged double the interest, according to research released today by…
Protestors call on BlackRock to cancel Zambia’s debt
Campaigners demonstrated outside BlackRock’s London office on day of annual earnings release BlackRock, the world’s richest asset manager, could make $180 million profit from Zambian debts for itself and its…
BlackRock could make 110% profit out of Zambia’s debt crisis
Jubilee Debt Campaign has estimated that asset manager BlackRock could make $180 million profit for itself and its clients out of its investment in Zambian bonds if the debts are…
Campaigners say two-thirds of Zambia’s debt needs to be cancelled
Figures released today by the Zambian Civil Society Debt Alliance and Jubilee Debt Campaign UK show that external private lenders and other governments need to cancel at least two-thirds of…
IMF loans must not be used to bail out Zambia’s private lenders
The IMF has announced that its staff have reached an agreement with the government of Zambia on a $1.4 billion loan over three years. The only information about the programme…
Credit Suisse fined $475 million and cancels $200 million of hidden debts
US authorities and the UK Financial Conduct Authority have collectively imposed a fine of $475 million on Credit Suisse for its role in the hidden debt scandal in Mozambique. Credit…
G20 initiative leads to less than a quarter of debt payments being suspended
Lower income countries which applied for scheme have spent $36.4 billion on external debt payments during the pandemic, and had just $10.9 billion suspended or cancelled Private creditors received the…
