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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
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Uncovering Zimbabwe’s Debt

Zimbabwe’s recent history has been characterised by political oppression, economic chaos and social division. That story is well known in the UK.

However it is rarely the case that a reign of terror springs from nowhere. What is much less well known is the long-term role that foreign governments, international institutions and private companies have played in laying the foundations for Zimbabwe’s catastrophe.

When the global Jubilee movement to ‘drop the debt’ was formed in the run up to the year 2000, Zimbabwe was one of the countries felt to be in need of urgent debt cancellation. For debt campaigners, Zimbabwe’s experience was typical of many African countries: structural adjustment programmes imposed from Washington, self-interested lending concerned more with boosting Western industry than benefiting some of the world’s poorest people. Zimbabwe was saddled with unjust debts from independence.

Today, debt campaigners are not calling for immediate debt cancellation for Zimbabwe. In the UK, we’re calling for a full audit of all debts, including Zimbabwe’s, to assess the impact of UK loans on developing countries. In Zimbabwe, debt campaigners are demanding the Zimbabwean parliament does the same.


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