Reaction to G20 Common Framework for debt treatments
Today the G20 announced a ‘Common Framework for debt treatments’. Campaigners had hoped it would provide a mechanism for permanent solutions to debt crises, which it has failed to do.…
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Zambia’s lenders should accept large debt write-down
Zambia, which spends four times more on external debt payments than public healthcare, could default on 14th November If paid in full, some bondholders could make 250% profit Jubilee Debt…
Reaction to G20 debt suspension and ‘common framework’
Jubilee Debt Campaign says failure to cancel debt and include private creditors shows disregard for scale of global South debt crisis which will leave poor countries paying $3 billion a…
Rise in value of IMF’s gold could help fund developing country debt cancellation
Press release for immediate release 12 October 2020 Profit from selling less than 7% of the IMF’s gold could fund cancellation of all debt payments by the poorest countries to the…
Poor country debt payments soar to highest level since 2001
Jubilee Debt Campaign launches new Debt Data Portal showing: Average developing country external debt payments increased by 115% between 2010 and 2020 52 countries are now in debt crisis Figures…
Press release – G20 debt failure will lose poor countries billions each month
G20 Finance Ministers today discussed the progress of their Debt Service Suspension Initiative. Ahead of the meeting campaigners have been calling for cancellation of debt payments, including measures to require…
$11 billion of IMF loans are bailing out private lenders
New research from Jubilee Debt Campaign shows how IMF loans to 28 highly indebted countries are enabling debt repayments to private lenders during the Covid-19 crisis The figures are released…
Reaction to industry body proposal for voluntary debt payment suspension
Reacting to the Institute of International Finance proposal on a voluntary debt payment suspension to private lenders launched today, Tim Jones, Head of Policy at Jubilee Debt Campaign said: “Any…
Lenders drive Argentina into a debt default
Argentina is expected to formally default today after the 30-day grace period on a bond payment expires. Commenting on the default, Sarah-Jayne Clifton, Director of Jubilee Debt Campaign said: “Argentina…
G20 debt suspension request: 90% of bonds governed by English law
First payments due on 1 and 4 May on debts G20 has asked private creditors to suspend Jubilee Debt Campaign estimates $9.4 billion of debt payments are due to private…