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…
Reaction: G7 should tackle private lenders rather than blame China
Reacting to the G7 Finance Ministers statement released today at the end of their summit[1], Tim Jones, Head of Policy at Debt Justice said: “To tackle the debt crisis in…
G7 responsible for over half of lower income country debt payments
New calculations released by anti-poverty campaigners Debt Justice today show that G7 countries are responsible for 51% of external debt payments by lower income countries. On the same basis, China…
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…
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…
Guide to understanding and accessing debt information
This guide, available in English, French, Spanish and Portuguese aims to help civil society organisations, journalists and interested citizens find and understand information on government debt. Accessing information is vital to…
Lebanon finally defaults, large write-down in debt needed
Jubilee Debt Campaign has been warning of Lebanon’s debt crisis since 2015 Large write-downs in debt will be needed by creditors to enable the country to recover Today Lebanon defaulted…
