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RT @TNInstitute: Who has profited from EU bank rescues since the 2008 crisis? https://t.co/ldkYpkVNFK #BailOutBusiness https://t.co/SYJhbkz…
EU austerity policies undermining rights, increasing inequalities https://t.co/X88WBmQHyj
Short answer: no https://t.co/A7xfsIMQxv
RT @MehreenKhn: Moscovici: "Growth is back in Greece". Dijsselobloem: "the Greek economy is growing". Fake news @MargSchinas? https://t.co/…
RT @faganj: Has to be said, the UK hasn't done too well, either. https://t.co/c64856TQey
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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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  • 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.

    10 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’, […]

    1670 actions taken

Latest from the campaign

  • 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 […]

  • Campaigners in the Philippines highlight the need for a debt audit (Freedom from Debt Coalition)

    Philippines to hold ‘historic’ audit into legitimacy of debts

    Tim Jones, 6 January 2017

    In a first for the country, the Philippines has legislated to hold a debt audit into 20 projects to determine the legitimacy of the loans. The audit is part of the 2017 General Appropriations Act, signed into law by President Duterte on 22 December 2016. Under the audit, the Congressional Oversight Committee on Official Development […]

  • creditsuisse4-large

    Mozambique’s secret loans: Protecting the unconstitutional

    Joseph Hanlon, 19 December 2016

    A Mozambican parliamentary Commission on 7 December submitted a devastating report on the $2 billion in secret loans originally given or arranged by the London branches of Credit Suisse and VTB to three companies in Mozambique: Ematum, Proindicus and MAM. The Commission finds that the government guarantee to repay the loans was not just illegal, […]

  • Photo: Gage Skidmore/Wikimedia

    Trump win pushes up future interest costs for African governments

    Jubilee Debt Campaign, 17 November 2016

    Yields on African countries’ debts have increased by more than for countries such as the US and UK Calculations by the Jubilee Debt Campaign have shown that the future borrowing costs of African governments have risen across the board in the last week, following Donald Trump winning the US Presidential election. For 12 African countries […]

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Jubilee Debt Campaign's registered charity number is 1055675