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 new developing world debt crisis

A new debt crisis has begun in impoverished countries. The UK needs to take responsibility now for the debt contracted under English law. Read the 4 page briefing here. Summary A new debt crisis has begun in impoverished countries, with Mozambique, Chad, Congo and Gambia unable to pay debts. Unless dealt with effectively, the crisis could …

Campaign improves IMF debt assessments, but risk of crises continues to increase

The IMF and World Bank have agreed some positive changes to their system for monitoring debts of impoverished countries, though some large issues have been ignored. The system, known as the Debt Sustainability Framework, is important as it directly impacts on amounts of lending by the World Bank and other multilateral development banks, and influences …

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 …

Countries in crisis

A debt crisis is any situation where debt is leading to human rights being denied, or even being put ahead of life itself. In our map of debt crises below we evaluate which countries are in a debt crisis, and which are at risk of one (click on the map for a larger, more detailed, …

Mozambican civil society challenges legality of “odious” loans

The Mozambique Budget Monitoring Forum has lodged a petition with the country’s Constitutional Council challenging the legality of the $850 million secret loan arranged by Credit Suisse to the Mozambican company Ematum. The loan was given a government guarantee in 2013, but this was not included in the state budget and therefore not approved by …

Global debt crises and threats increase across the world

Twenty-seven countries across the world are in debt crisis, with a further 80 at risk of being so, according to new figures released for World Debt Day on 16 May. The figures, calculated by the Jubilee Debt Campaign, classify countries as in debt crisis if they have a large financial imbalance with the rest of …