Reaction to IMF board approval of $3bn loan to Pakistan
For more information and interviews contact Jerome Phelps on +44 7307 620372 The IMF has agreed to disburse a loan of $3 billion to Pakistan, following other new loans from…
Stop cowboy lenders and end the global debt crisis
This year Pakistan will spend over $20 billion on debt payments to big banks and hedge funds. Right now, the country is struggling to rebuild after horrendous flooding last year,…
Cancel the debt for climate justice
As world leaders meet in Egypt for the COP27 climate conference – we all know how much is at stake. But for many lower income countries, dealing with the worst…
Pakistan’s floods: Vicious cycle of debt and climate crises
The flood in Pakistan is a humanitarian crisis of epic proportions. Entire towns, vital infrastructure, homes, farmlands and crops are being washed away. With a third of the land under…
G20 initiative leads to less than a quarter of debt payments being suspended
Lower income countries which applied for scheme have spent $36.4 billion on external debt payments during the pandemic, and had just $10.9 billion suspended or cancelled Private creditors received the…
Response to the IMF response on bailing out reckless lenders
The International Monetary Fund (IMF) has publicly responded to our research, launched yesterday with 34 other civil society organisations, that $93 billion of IMF loans are being used to bail…
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…
