UK pushes Pakistan, Indonesia and the Gambia into more debt
The UK government has backed loans to Pakistan, Indonesia and the Gambia without conducting any assessment of their impact, or the ability of the countries to repay. The revelations come…
Ghana debt payments on the rise
Payments could reach 30 per cent of government revenue in 2020s. Ghana has recently been judged by the IMF and World Bank to be at moderate risk of not being…
Argentine ship ordered to be released from Ghana
A tribunal in Hamburg has decided on Saturday that the Argentine navy ship seized in Ghana, the ARA Libertad, should be released back to the South American country. The ARA…
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…
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…
IMF negotiating loan with Egypt
Protests against conditions and usury. The Egyptian government has announced it is in negotiations with the IMF on a $4.8 billion loan. The loan is likely to be disbursed over…
The State of Debt
Thirty years of debt crisis have devastated livelihoods across the world. Debt cancellation finally released some countries from one debt trap, but the First World Debt Crisis shows yet again…
