LATEST TWEET:
World Bank funds linked to forced labour in Uzbekistan https://t.co/nuwzAMiTDd
UK banks ordered to hold more capital as consumer debt surges https://t.co/TMa44F4JJ8
Puerto Rico oversight board rejects $9 billion debt restructuring deal because doesn't reduce debt enough https://t.co/dVxyV6I3Ur
Opposition party in Ghana criticises proposed huge loans from China https://t.co/ATJrh7EnKz
Credit Suisse says it 'only' earned $23m in commissions from secret loans to Mozambique, not $100m revealed in audit https://t.co/YSPzFyHf3a
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Since the global financial crisis of 2008, there has been a new boom in irresponsible lending to the developing world.

This lending boom is threatening to set a new debt trap for people in poverty around the world, particularly in Africa. Governments are unable to afford to pay off their debts and provide basic services like healthcare and education to their people.

No bailout for Mozambique’s secret lenders

Campaigners from Jubilee Debt Campaign protesting against Credit Suisse's secret loans to Mozambique, outside their office in Canary Wharf, London

Mozambique is in a stand-off with its creditors over $1.1 billion of secret debts revealed last year. But now campaigners in Mozambique fear the IMF will give the country new loans before those responsible for the scandal have been held to account. Please tell the UK government not to support a bailout for Mozambique’s secret […]

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  • 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’, […]

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