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‘Outrageous’ Mozambique debt deal could make 270% profit for speculators
• People of Mozambique to pay $1.7 billion to $2.2 billion on original loan of $760 million, which was not agreed by Mozambique parliament, and which has been of no…
• People of Mozambique to pay $1.7 billion to $2.2 billion on original loan of $760 million, which was not agreed by Mozambique parliament, and which has been of no…
• Restructuring of Glencore loans reduces interest rates and extends maturity by four years • IMF accepts minimum needed to make debt ‘sustainable’, while country remains at high risk of…
• Debt problems on the African continent are increasing, with external government debt payments doubling in two years • The private sector is the largest source of loans, accounting for…
• New President Julius Maada Bio says he has inherited a debt crisis • 73% of Sierra Leone’s debt is owed to multilateral institutions • Jubilee Debt Campaign warned that…
• IMF projections for debt, revenue and interest all over-optimistic • But public spending cut by more than initially planned • Debt crisis expected to continue for next twenty years,…
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…
Hints that if creditors do not agree, legality of the debt may become an issue Bondholders reject proposal, but no creditor has taken legal action on defaulted debts In a…
100 MPs sign motion which expresses concern about secret loans and calls for new transparency measures Mozambique government meeting creditors in London on 20 March On 20 March the Mozambique…
• 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…
Attorney General announces legal action against officials, but there is still no news of any action against the London banks by the UK’s FCA.