Sierra Leone debt creeping up
Sierra Leone’s government external debt payments are increasing. The IMF estimates they will account for between 7 and 9 per cent of government revenue between 2012 and 2017; $30 million to $50...
View ArticleCrown dependencies introducing vulture fund bills
The parliaments of Jersey, Guernsey and the Isle of Man are all discussing legislation to prevent vulture funds suing Heavily Indebted Poor Countries for inflated claims on old debts. Laws are expected...
View ArticleLaos’‘debt distress’ eases so will get fewer grants and more loans
The IMF have reclassified the Laos government as being at moderate rather than high risk of not being able to pay external debts. The change is not due to any fall in debt levels or unexpected increase...
View ArticleStates of Jersey legislate against vulture funds
The parliament of Jersey, known as the States, has today passed legislation to limit the ability of vulture funds to sue some of the world’s most impoverished countries in the islands courts. The bill...
View ArticleGhana debt payments on the rise
Payments could reach 30 per cent of government revenue in 2020s. Ghana has recently been judged by the IMF and World Bank to be at moderate risk of not being able to pay debts. The government’s foreign...
View ArticleWhat the UK could do now to bring in a Jubilee for Justice
Over 10,000 people have signed our petition for a Jubilee for Justice calling for: Cancellation of the unjust debts of the most indebted nations Promotion of just and progressive taxation The stopping...
View ArticleOutrage as Vince Cable refuses to respond to Kenyan campaigners
Business Minister Vince Cable has refused to respond to concerns raised by the Kenyan Debt Relief Network (KENDREN) about the legitimacy of Kenya’s debt to the UK. Kiama Kaara, Senior Programme...
View ArticleTen years since historic debt cancellation agreement, new crises threaten Africa
Lending levels to the most impoverished countries in the world have tripled, ten years after the G7 finance ministers agreed a debt cancellation deal for low income countries, potentially setting a new...
View ArticleGlobal South debt payments increase almost 50% in two years
• Government external debt payments reach highest level in the last decade following commodity price falls and rising value of the US dollar • Figures released before US Federal Reserve meeting where...
View ArticleSudan moves one step closer to clearing $60 billion debt.
Earlier this week, the IMF agreed a financing plan to clear $1.4 billion owed to it by Sudan. The agreement was reached on the first day of the ‘Summit on Financing for African Economies’ being held in...
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