Argentine ship ordered to be released from Ghana

A tribunal in Hamburg has decided on Saturday that the Argentine navy ship seized in Ghana, the ARA Libertad, should be released back to the South American country. The ARA Libertad was seized after a vulture fund, NML Capital, brought a case in Ghana to claim ownership of the boat. NML Capital are pursuing Argentina …

We still need a debt jubilee: 20 years on from the Birmingham human chain

Twenty years ago today, as a wide-eyed 16 year old, I went on my first ever protest. Travelling to Birmingham with a group from my church, we joined 70,000 others to surround the G8 summit, demanding debt cancellation for 52 impoverished countries by the year 2000. Many countries had been trapped in debt for the …

New figures show debt crises are growing across the globe

Jubilee Debt Campaign analysis shows 31 countries now in debt crisis, up from 27 in 2017 and 22 in 2015 A further 82 are at risk of a debt crisis Figures released on 20th Anniversary of 70,000-strong protest outside the G8 in Birmingham, UK, calling for cancellation of unpayable developing country debt Thirty-one countries across …

Developing country debt payments increase by 60% in three years

• Government external debt payments reach highest level since 2004 following lending boom and commodity price falls in recent years • Figures released before US Federal Reserve meeting where further interest rates rises are expected, which will push debt payments higher Figures released today by the Jubilee Debt Campaign, based on IMF and World Bank …

The truth about the UK’s debt: 10 key facts

Debt has been one of the main issues facing the UK economy. Austerity policies have been introduced in the name of reducing the UK government’s debt. But what do we know about this debt?

10 key facts which show the truth about the UK’s debt crisis

• Amount of interest being paid on government debt is at virtually the lowest level since records began • But the UK economy has the highest deficit with the rest of the world of any rich country, and is uniquely vulnerable to global financial shocks The UK government is paying virtually the lowest amount of …

History of debt

This timeline sets out a series of key dates and events in the history of global debt which have helped shape the way indebtedness is perpetuated to this day. 1800s Under the colonial system, territories in Africa, Asia and Latin America are captured and controlled by colonies. Their economies are run to provide raw materials …