Over 100 experts call on BlackRock to cancel Zambia’s debt
Over 100 economists and development experts have called on BlackRock and other creditors to cancel a significant amount of Zambia’s debt. In an open letter released today, the signatories –…
Reaction to IMF call for $8.4bn of Zambia debt payments to be cancelled
The IMF has released its Debt Sustainability Assessment for Zambia.[1] The documents say that $8.4 billion of debt payments needs to be cancelled by government and external private creditors between…
Negotiations on debt relief for Zambia finally set to begin
Over the weekend, China, the UK and other government lenders agreed to negotiate a debt restructuring with Zambia. The move was met with headlines such as “China agrees landmark debt…
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…
