Debt

Warning that benefits of debt suspension will flow into coffers of big banks without stronger action 

Some of the world’s richest investment banks and hedge funds are draining developing countries of urgently needed funds to deal with the coronavirus crisis, says a new report from a coalition of charities and campaign groups.

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Under the radar: Private sector debt and coronavirus in developing countries

October 2020

The G20 must step in and compel private creditors to cancel the debts of developing countries to avoid the loss of many more lives.

Sep28
Online

Between 28 September and 14 October we're taking part in a virtual lobby of MPs on coronavirus and debt in the global south. Justice Now supporters will be joining with other constituents to set up virtual meetings with their MPs in this period.

Aid
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Drop Debt, Save Lives Supporter Toolkit

August 2020

Covid-19 and the debt crisis in developing countries

As the world continues to battle coronavirus, the pandemic is wreaking havoc on the economies of lower-income countries and could push 500 million more people into poverty. Governments desperately need money to

Aid

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

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.

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.

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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...

Aid

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

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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

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

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

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

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

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

Resource thumbail

Under the radar: Private sector debt and coronavirus in developing countries

October 2020

The G20 must step in and compel private creditors to cancel the debts of developing countries to avoid the loss of many more lives.

Resource thumbail

Drop Debt, Save Lives Supporter Toolkit

August 2020

Covid-19 and the debt crisis in developing countries

As the world continues to battle coronavirus, the pandemic is wreaking havoc on the economies of lower-income countries and could push 500 million more people into poverty. Governments desperately need money to

Aid
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...

Aid

Latest news

Some of the world’s richest investment banks and hedge funds are draining developing countries of urgently needed funds to deal with the coronavirus crisis, says a new report from a coalition of charities and campaign groups.

Warning that benefits of debt suspension will flow into coffers of big banks without stronger action 

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.