Debt

The global south is being left at the mercy of the financial markets. We must keep campaigning to prevent a full-blown debt crisis

23 July 2020

While lockdown is easing here in Britain, across the world coronavirus cases continue to rise. In some countries, like El Salvador, health systems have been overwhelmed. In others, including parts of India, strict lockdowns have had to be reimposed in parts of the country. Across Africa, infections are rising rapidly.

The G20 continues to ignore calls to cancel the debts of the world’s poorest countries and stop funding fossil fuels

Dorothy Grace Guerrero

22 July 2020

When the World Health Organisation (WHO) declared Covid-19 a global pandemic in March, it meant understanding that no one is safe unless everyone is safe. To fight against its spread, it's in everyone’s interest to bring the pandemic under control.

Campaigners rally behind Argentina as financial markets refuse to accept coronavirus debt write-down

Global Justice Now called on the British Government to support Argentina in its stand-off with its private sector lenders, ahead of the country’s formal default deadline on Friday. If Argentina goes into default, it is likely to be the first of many countries, as enormous debt burdens prevent government dealing with the coronavirus crisis across Africa, Asia and Latin America.

Resource thumbail

Exiting the permanent crisis in the global south

April 2020

The case for a global financial reset in the wake of Covid-19

Even in the wealthiest countries on earth, years of austerity combined with ‘market knows best’ ideology has hollowed out our ability to deal with coronavirus. But for many countries in the global south, the weakness of the public sector was not a democratic choice but was imposed by rich countries and international institutions like the IMF...

Climate and energy

Aid

General

Coronavirus: IMF told to ‘massively scale up’ debt cancellation for developing world

General

Campaigners call for $40 billion of debts to be cancelled in 2020, as IMF announces $0.5 billion fund.

The new debt crisis

17 February 2016

General

In the markets of Mozambique before Christmas there was a sudden increase in the price of food. The price of maize shot up by a quarter, tomatoes by a third and cooking oil by over 10%.

Paradoxically, this surge in food prices is linked to the same reasons why prices in other parts of the world are falling.

Greece is for sale – and everything must go

19 August 2015

General

I've just had sight of the latest privatisation plan for Greece. It's been issued by something called the Hellenic Republic Asset Development Fund – the vehicle supervised by the European institutions, which has been tasked with selling off an eye-watering €50 billion of Greece's ‘valuable assets’.

‘Cancel Greek Debt’ projected on German Embassy in London

General

Last night activists from Global Justice Now and Jubilee Debt Campaign projected “Cancel Greek Debt” in giant letters against the German embassy in West London, below a a mock-up of German Chancellor Angela Merkel as the three wise monkeys (‘see no evil, hear no evil, speak no evil’). The series of projections also included a the slogan “OXI – no to Debt and Austerity.”

Elgin Marbles targeted in Greek solidarity protest in British Museum

General

This morning we teamed up with Jubilee Debt Campaign to hold a solidarity protest at the ‘Elgin Marbles’ in the British Museum with a banner saying "OXI No - No More Looting - Support Greece"

In Defence of Greece: 6 Myths Busted

Joseph Leigh, Lewis Bassett and Michael Walker

30 June 2015

General

Greece may be forced to leave the Eurozone before the end of the week. As Syriza has been consistently represented in the mainstream media as an irresponsible and ideologically-driven leftist government, it is important to unpack the seemingly common sense arguments against Syriza.

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Latest posts

The global south is being left at the mercy of the financial markets. We must keep campaigning to prevent a full-blown debt crisis

23 July 2020

While lockdown is easing here in Britain, across the world coronavirus cases continue to rise. In some countries, like El Salvador, health systems have been overwhelmed. In others, including parts of India, strict lockdowns have had to be reimposed in parts of the country. Across Africa, infections are rising rapidly.

The G20 continues to ignore calls to cancel the debts of the world’s poorest countries and stop funding fossil fuels

Dorothy Grace Guerrero

22 July 2020

When the World Health Organisation (WHO) declared Covid-19 a global pandemic in March, it meant understanding that no one is safe unless everyone is safe. To fight against its spread, it's in everyone’s interest to bring the pandemic under control.

The new debt crisis

17 February 2016

General

In the markets of Mozambique before Christmas there was a sudden increase in the price of food. The price of maize shot up by a quarter, tomatoes by a third and cooking oil by over 10%.

Paradoxically, this surge in food prices is linked to the same reasons why prices in other parts of the world are falling.

Greece is for sale – and everything must go

19 August 2015

General

I've just had sight of the latest privatisation plan for Greece. It's been issued by something called the Hellenic Republic Asset Development Fund – the vehicle supervised by the European institutions, which has been tasked with selling off an eye-watering €50 billion of Greece's ‘valuable assets’.

In Defence of Greece: 6 Myths Busted

Joseph Leigh, Lewis Bassett and Michael Walker

30 June 2015

General

Greece may be forced to leave the Eurozone before the end of the week. As Syriza has been consistently represented in the mainstream media as an irresponsible and ideologically-driven leftist government, it is important to unpack the seemingly common sense arguments against Syriza.

Why I'm standing with Greece in Trafalgar Square this evening

29 June 2015

General

It’s all too easy, when you hear of markets in disarray and banks closing on the other side of the continent, to forget about the terrible human impacts of the crisis in Greece.

Resources

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Resource thumbail

Exiting the permanent crisis in the global south

April 2020

The case for a global financial reset in the wake of Covid-19

Even in the wealthiest countries on earth, years of austerity combined with ‘market knows best’ ideology has hollowed out our ability to deal with coronavirus. But for many countries in the global south, the weakness of the public sector was not a democratic choice but was imposed by rich countries and international institutions like the IMF...

Climate and energy

Aid

General

Resource thumbail

Why we are taking action for Greece, and other questions

June 2015

The bailouts which Greece was given have not benefited the people of Greece one bit. They have flowed into the European banks that recklessly lent the country money. Meanwhile, the financial speculators who created Greece’s woes are actually making large profits by gambling on this ongoing crisis.

We have joined a coalition of organisations in taking action against Greek debt and an end to the enforcing of austerity policies that are causing injustice and poverty in Europe and across the world.

General

Zambia: Condemned to debt

April 2004

How the IMF and World Bank have undermined development

General

Latest news

Campaigners rally behind Argentina as financial markets refuse to accept coronavirus debt write-down

Global Justice Now called on the British Government to support Argentina in its stand-off with its private sector lenders, ahead of the country’s formal default deadline on Friday. If Argentina goes into default, it is likely to be the first of many countries, as enormous debt burdens prevent government dealing with the coronavirus crisis across Africa, Asia and Latin America.

Coronavirus: IMF told to ‘massively scale up’ debt cancellation for developing world

General

Campaigners call for $40 billion of debts to be cancelled in 2020, as IMF announces $0.5 billion fund.

‘Cancel Greek Debt’ projected on German Embassy in London

General

Last night activists from Global Justice Now and Jubilee Debt Campaign projected “Cancel Greek Debt” in giant letters against the German embassy in West London, below a a mock-up of German Chancellor Angela Merkel as the three wise monkeys (‘see no evil, hear no evil, speak no evil’). The series of projections also included a the slogan “OXI – no to Debt and Austerity.”

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Global Justice Now campaigns for a world where resources are controlled by the many, not the few. We work in solidarity with social movements to fight the causes of poverty and injustice.

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