The increasing global South debt crisis and cuts in public spending
In this 11-page briefing we analyse how the debt payments of 63 countries in the global South have increased and are projected to increase. We also look at how public…
Sovereign debt crises: Stop bailing out reckless lenders
Briefing available in English, French and Spanish In this briefing 34 civil society organisations set out how IMF loans are used to bail out reckless lenders. They call for the…
Crisis deepens as global South debt payments increase by 85%
External debt payments by developing country governments grew by 85%, as a proportion of government revenue, between 2010 and 2018 For the countries with the highest payments, in two-thirds public…
Argentina is facing record debt and is on the road to hell. There is only one way out.
The legitimacy of the debt must be challenged and proposals for a public debt audit resuscitated. Dan Ozarow is Chair of Jubilee Debt Campaign’s Academic Advisory Network and member of Action…
Sierra Leone: Ebola debt to IMF contributes to big cuts in public spending
In November the IMF agreed a new $172 million loan programme with Sierra Leone, spread over the next 3 and a half years, until mid-2022. At the same time, the…
The New Debt Crisis in Southern Africa: Angola, Zambia and Zimbabwe
This is a guest post by Sunit Bagree, Senior Campaigns Officer, Action for Southern Africa (ACTSA), based on a talk given at the Jubilee Debt Campaign event ‘Breaking the chains: 1998…
Chad at high risk of another debt default after restructuring
• Restructuring of Glencore loans reduces interest rates and extends maturity by four years • IMF accepts minimum needed to make debt ‘sustainable’, while country remains at high risk of…
Ghana’s debt situation worsens as lenders continue to be bailed out
• IMF projections for debt, revenue and interest all over-optimistic • But public spending cut by more than initially planned • Debt crisis expected to continue for next twenty years,…
We still need a debt jubilee: 20 years on from the Birmingham human chain
Twenty years ago today, as a wide-eyed 16 year old, I went on my first ever protest. Travelling to Birmingham with a group from my church, we joined 70,000 others…
Developing country debt payments increase by 60% in three years
• Government external debt payments reach highest level since 2004 following lending boom and commodity price falls in recent years • Figures released before US Federal Reserve meeting where further…
