NEW REPORT: The colonial roots of global south debt
This report exposes how current global south debt is both a colonial legacy, and a neo-colonial tool used by global north governments, institutions and corporations to plunder the wealth of,…
Lower-income countries have paid out $2.7 trillion in interest payments since 1970
For more information and interviews contact Jerome Phelps on +44 7307 620372 Lower-income countries have been forced to pay out $2.7 trillion in interest payments to creditors since 1970, according…
Governments demand banks and hedge funds cancel more of Zambia’s debt
When Zambia reached a deal with its private lenders on 26 October, some celebrated it as the end of three years of stalemate since the country became the first to…
IMF and governments express reservations about Zambia debt deal which will pay bondholders a third more than governments
Bondholders will be repaid a third more than government creditors including China and the UK under the restructuring deal agreed with Zambia, even though they lent at higher interest rates…
Rising debt locks global south countries in fossil fuel production
For more information and interviews contact Jerome Phelps on +44 7307 620372 Global south countries are trapped in relying on fossil fuel exploitation to generate revenue to pay debts, according…
NEW BRIEFING: The Debt-Fossil Fuel Trap
This new briefing exposes the debt-fossil fuel trap that many countries in the global south are trapped in and proposes solutions to break this toxic cycle. Published with allies from…
Private lenders: Why their arguments against a new law don’t stack up
Banks, hedge funds and asset managers have been lobbying vigorously against proposals to ensure private lenders take part in debt relief. They are using exactly the same arguments as 15…
Reaction to IMF board approval of $3bn loan to Pakistan
For more information and interviews contact Jerome Phelps on +44 7307 620372 The IMF has agreed to disburse a loan of $3 billion to Pakistan, following other new loans from…
The global debt crisis and the need for reparations
More and more global South and civil society leaders have started calling not just for debt cancellation but for reparations. But what does this mean and what is being called…
We still need a debt jubilee: 25 years on from the Birmingham human chain
Twenty-five 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…
