Africa subsidises the rest of the world by over $40 billion in one year, according to new research

Much more wealth is leaving the world’s most impoverished continent than is entering it, according to new research into total financial flows into and out of Africa. The study finds that African countries receive $161.6 billion in resources such as loans, remittances and aid each year, but lose $203 billion through factors including tax avoidance, …

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 …

Debt and economics workshops across the UK

Join Jubilee Debt Campaign in Newcastle, Manchester or London for an interactive, informative, educational day-long workshop looking at how debt and economics are impacting people around the world in 2017. Inequality and debt are on the rise – eight men now own as much wealth as half the world’s population. The debt payments of impoverished …

Global South debt payments increase almost 50% in two years

• Government external debt payments reach highest level in the last decade following commodity price falls and rising value of the US dollar • Figures released before US Federal Reserve meeting where interest rates are expected to be increased again, which will push debt payments higher Figures released today by the Jubilee Debt Campaign, based …

Trump win pushes up future interest costs for African governments

Yields on African countries’ debts have increased by more than for countries such as the US and UK Calculations by the Jubilee Debt Campaign have shown that the future borrowing costs of African governments have risen across the board in the last week, following Donald Trump winning the US Presidential election. For 12 African countries …

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 and Ghana unable to pay debts. Unless dealt with effectively, the crisis could cause …

Global call for hidden debts to be brought into the light

Civil society from borrowing and lending countries call for new approach to assessing debts The IMF and World Bank are reviewing the Debt Sustainability Framework, their main policy which is meant to prevent debt crises in the most impoverished countries. Over thirty civil society organisations have outlined a set of major changes which are needed …

What we do

Our story On the 16th May 1998, 70,000 people took to the streets of Birmingham and formed a ‘human chain’ around the city which was then hosting a global summit with world leaders. The thousands of people who filled the city centre were ordinary people calling for debt cancellation for the world’s most indebted countries, …

Collapse in commodity prices leads to $61 billion funding gap for impoverished countries

Amount is $13 billion more than countries studied receive in aid each year Impoverished country governments could be up-to $61 billion worse off in 2016 as a result of the crash in global commodity prices and strengthening of the US dollar. This is reducing government revenue and increasing the relative size of debt payments in …