Personal debt grows six times more than wages
Bank of England figures released today show that unsecured personal debt is 6.5% higher than a year ago Jubilee Debt Campaign has calculated that unsecured personal debt has grown by…
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Mozambique files case against Credit Suisse in the UK
Jubilee Debt Campaign has learnt that the government of Mozambique, represented by the Attorney General, has filed a case in the UK High Court against Credit Suisse International. Commenting on…
UK does not lead the world on tackling illicit finance
Commenting ahead of the first meeting of the UK’s new Economic Crime Strategic Board, Sarah-Jayne Clifton, Director of the Jubilee Debt Campaign, said: “While welcome, today’s focus on economic crime…
Former Credit Suisse bankers arrested in London over $2bn loans to Mozambique
Reacting to the news that three former Credit Suisse bankers have been arrested in London, as part of a US investigation into $2 billion of loans to Mozambique, Tim Jones,…
Former Mozambique Finance Minister arrested in relation to $2bn secret loans
Responding to reports that former Mozambique Finance Minister Manuel Chang has been arrested in South Africa in relation to the $2 billion secret debt deals, Tim Jones, policy officer at…
Developing county borrowing costs increase 7 times more than US in past year
Interest rates on new developing country borrowing increased by an average of 2.2 percentage points over the course of 2018. Yields on low- and lower-middle income country debt, calculated by…
Climate scheme hands $105 million profit to global insurance industry
• Caribbean disaster insurance scheme receives $293 million in premium payments and grants, pays out $131 million in claims, with $105 million going as profit to global insurers • Figures…
FCA decision to drop Mozambique investigation ‘deeply disappointing’
Reacting to reports that the UK’s Financial Conduct Authority has dropped its criminal investigation into Credit Suisse’s loans to Mozambique, Tim Jones, policy officer at the Jubilee Debt Campaign said:…
Pakistan needs debt relief, not another failed IMF bailout
Commenting on the news that Pakistan is to request a $7 billion bailout from the IMF, Tim Jones, economist at the Jubilee Debt Campaign said: “Pakistan has received IMF bailout…
African governments’ debt payments double in just two years
• Debt problems on the African continent are increasing, with external government debt payments doubling in two years • The private sector is the largest source of loans, accounting for…