Covid-19: Call for freeze on personal debt payments
Nearly 80 civil society leaders and academics call for urgent freeze on personal debt payments Letter to the Chancellor also calls for write-off of existing council tax and social security…
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Reaction to IMF and World Bank call for a debt moratorium
The IMF and World Bank have called for an immediate suspension of all debt payments to other governments by a group of the poorest countries, known as IDA countries. Reacting…
Calls grow for debt moratorium for poor countries
African Finance Ministers call for suspension of all interest payments World Bank Head calls for suspension of all interest and principal payments to other governments African Finance Ministers have called…
Coronavirus worsens debt crisis in poor countries
Borrowing costs for developing country governments has increased sharply Commodity price falls and declines in tourism could have major economic impact on many poor and vulnerable countries Borrowing costs for…
Reaction to £150m in UK budget for coronavirus debt relief
The UK government has announced £150 million for an IMF fund to cancel debt payments for poor countries hit by coronavirus There are concerns that countries will struggle to qualify…
Lebanon finally defaults, large write-down in debt needed
Jubilee Debt Campaign has been warning of Lebanon’s debt crisis since 2015 Large write-downs in debt will be needed by creditors to enable the country to recover Today Lebanon defaulted…
Mozambique sues in UK to cancel debt in secret loan case
Case brought by the government of Mozambique also seeks damages from Credit Suisse and shipbuilding company Privinvest Credit Suisse given deadline of 21 January to file and serve their defence…
Poor countries cut public spending, debt payments treble
Figures calculated by Jubilee Debt Campaign from IMF and World Bank data show that growing debt burdens are contributing to public spending cuts For the 15 countries spending over 18%…
Reaction to Russian bank suing Mozambique in London
Campaigners say people of Mozambique should not have to pay one cent in debt arising from secret loans Reacting to reports that Russian State bank VTB has filed a case…
The IMF is spending $93 billion bailing out reckless lenders
New research by the Jubilee Debt Campaign indicates a major breach by the IMF of its own policies, with $93 billion of lending to highly indebted countries, without any debt…