LATEST TWEET:
Ahead of #Budget17, there are 10 things you need to know about UK debt. Here is fact 7 in our series of… https://t.co/dFxyr4DuOr
Food for thought ahead of #Budget2017. This is Fact 5 in our series of #UKdebtFacts. Check the rest on our Facebook… https://t.co/dMLGzTnFlR
If you're interested in John McDonnell's plans but concerned about UK debt, take a look at our #UKdebtFacts - you m… https://t.co/hS0DDkIpn9
The government say Labour's plans would lead to more debt, but UK debt is in good shape. Plus the interest rates th… https://t.co/Rjgb02V7VA
Join the movement

Tell Credit Suisse and VTB to drop the debts claimed from Mozambique

In 2013 Credit Suisse and VTB lent $1.1 billion to two publicly-owned companies in Mozambique from their offices in London.

Details of the loans were not made public, and they were never approved by Mozambique’s parliament – in direct contravention of the country’s constitution.

Civil society groups in Mozambique have condemned the loans as ‘illegal’, called for prosecutions of officials and say the people of Mozambique should refuse to pay. But because the loans were made in London, the banks could try and use London courts to demand repayment plus interest.

Please tell Credit Suisse and VTB to drop these secret debts.

Photo: eflon/Flickr

Photo: eflon/Flickr

“In defence of the common good and against the continued impoverishment of the Mozambican people, we do not want, do not accept and will not pay these illegal debts.”

– Statement by 26 civil society groups in Mozambique, June 2016

Jubilee Debt Campaign is a company limited by guarantee, number 3201959
Jubilee Debt Campaign's registered charity number is 1055675