World Bank broke its own rules over high-interest loans to Ghana
Lender accused of guaranteeing profits for speculators The World Bank has been accused of helping to fuel a new debt crisis in Ghana after it was revealed it has broken…
Campaigners in Mozambique call for non-payment of hidden debts
A group of 26 organisations in Mozambique have asserted that the $1.86 billion of the country’s debts at the centre of a growing international controversy were contracted illegally and should…
Campaigners criticise Credit Suisse for helping to hide Mozambique loan
Over recent days it has come to light that Credit Suisse and VTB lent around $1.35 billion to Mozambique, but the government and the lenders hid this from any public…
Collapse in commodity prices leads to $61 billion funding gap for impoverished countries
Amount is $13 billion more than countries studied receive in aid each year Impoverished country governments could be up-to $61 billion worse off in 2016 as a result of the…
Mozambique proposes ‘tuna’ bond restructuring
Proposed terms will cut debt but increase interest rate, leaving Mozambique no better off, despite crash in commodity prices reducing ability to pay Mozambique is trying to restructure the terms…
Budget 2016: Concern over switch of UK aid from grants to loans
Information hidden in budget announcements suggest UK government will be giving £3.8 billion of 'aid' money as loans in next four years
UK government response to Debt Trap campaign
Minister of State for International Development, Desmond Swayne MP, has responded to Jubilee Debt Campaign’s No New Debt Trap campaign, calling for urgent action to prevent a wave of debt crises…
Uganda road project cancelled but debt remains
In January the World Bank cancelled a road building project in Uganda after “multiple failures … on the part of the World Bank, the government of Uganda, and a government…
US interest rate rise could deepen debt crisis in developing countries
Commenting on the increase in US Federal Reserve interest rate, Sarah-Jayne Clifton, Director of the Jubilee Debt Campaign said: “The debt problems of many developing countries will worsen as this…
Commodity price crash causes debt payments to soar
Effective interest rates on World Bank loans reaching 9%, whist on private sector loans hits 27% Over recent months there has been a crash in prices for commodities – metals,…