Bondholders could make $30 billion profit by refusing to cancel debts
The big finance firms that own the debts of five countries in a debt crisis are set to collectively make $20-$30 billion of profit if they refuse to cancel debt…
Lower income country debt payments to hit highest level in 25 years
Lower income country debt payments in 2023 will hit the highest level since 1998, according to figures released by Debt Justice today. External debt payments for 91 countries will average…
Germany’s debt cancellation: The London debt accords
On 27 February 1953, an agreement was signed in London which resulted in the cancellation of 50 per cent of the debt owed by Germany (represented by West Germany); 15…
Ghosh, Piketty and Varoufakis among 182 experts calling for Sri Lanka debt cancellation
182 economists and development experts have called for debt cancellation for Sri Lanka to help it out of its current economic crisis. In a statement released today, the signatories –…
300 organisations demand debt cancellation
300 organisations from 56 countries demand debt cancellation for developing countries, as IMF and World Bank meetings take place in Washington Demonstrations will take place across the world to coincide…
Lower income country borrowing costs rise at three times the rate of the US
New analysis by Debt Justice finds that average interest rates on new borrowing by lower income countries have increased by 5.7 percentage points this year, almost three times the rate…
Negotiations on debt relief for Zambia finally set to begin
Over the weekend, China, the UK and other government lenders agreed to negotiate a debt restructuring with Zambia. The move was met with headlines such as “China agrees landmark debt…
Long Read: Sri Lanka’s Debt Crisis
Behind the food and fuel shortages causing Sri Lanka’s protests lie unmanageable debts to the West. The only answer to worsening humanitarian catastrophe is an immediate write-off. This article first…
African governments owe three times more debt to private lenders than China
African governments owe three times more debt to Western banks, asset managers and oil traders than to China, and are charged double the interest, according to research released today by…
Countries in debt crisis cut public spending in face of soaring prices
New figures released today by anti-poverty campaigners Debt Justice show that countries in debt crisis are expected to spend less in 2023 than in 2019, despite the urgent need for…
