LATEST TWEET:
RT @BankTrack: BankTrack has signed an open letter calling on the #IMF to ensure banks not people take the hit over secret loans to Mozambi…
Mozambique's debt crisis deepens as it defaults on a $119 million payment on a loan arranged by Credit Suisse Group: https://t.co/4RVeOvTHco
Mozambican campaigners demand cancellation of secret debt before the IMF lends again https://t.co/59LuKDcdNr
World Bank's Jim Yong Kim says the days of African debt crises over. Meanwhile,Ghana and Mozambique in debt crisis.. https://t.co/YEGf4nf9Lz
France passes law to clip vulture funds’ wings https://t.co/9KgSE1JWjR
Join the movement

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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More actions

  • Africa’s debt crisis – Write to your MP

    Ask your MP to support action to tackle the UK’s role in Africa’s debt crisis.

    12 actions taken
  • 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’, […]

    1680 actions taken

Latest from the campaign

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

    Mozambican campaigners demand cancellation of secret debt before the IMF lends again

    Jubilee Debt Campaign, 22 March 2017

    Campaigners in Mozambique have called for secret debts to be cancelled before the IMF lends to the country again, alongside a range of measures including public disclosure of the audit into the debts, mechanisms to hold leaders accountable for actions and greater tax collection from megaprojects in the country. In a statement signed by 35 […]

  • debttrap-campaign

    Global South debt payments increase almost 50% in two years

    Jubilee Debt Campaign, 13 March 2017

    • 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 interest rates are expected to be increased again, which will push debt payments higher Figures released today by the Jubilee Debt Campaign, based […]

  • Jubilee Debt Campaign

    Campaigners call for transparency from Gambia’s lenders

    Jubilee Debt Campaign, 23 February 2017

    • Comment on revelation that Gambia’s debt is $1 billion The Gambian government have said that former President Yahya Jammeh stole at least $50 million, and left the government with a debt of $1 billion. The most recent figure from the IMF is that the Gambia’s total government debt is $881 million. Commenting on the statements […]

  • Hurricane Matthew destroyed an estimated 90% of homes in Haiti's Grande Anse department. (Flickr / European Commission)

    IMF refuse to cancel Haiti debt as hurricane not ‘catastrophic’

    Tim Jones, 15 February 2017

    The damage caused by Hurricane Matthew in October has led the IMF and World Bank to assess Haiti as being at high risk of not being able to pay its debt, up from their previous moderate risk assessment. However, the two institutions have refused to cancel any debt owed to them in response to the […]

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

    Campaigners demand Credit Suisse ‘comes clean’ as Mozambique defaults

    Jubilee Debt Campaign, 18 January 2017

    The Mozambique government has said it will not make a $60 million interest payment due on 18 January On 17 January, campaigners from the Jubilee Debt Campaign handed in a call from 900 people for Credit Suisse to “come clean” about its facilitation of secret loans to Mozambique. The campaign group is supporting calls by […]

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