Jubilee Debt Campaign
has long sought international debt justice.
Separate analysis by the Centre for Responsible Credit and Jubilee Debt Campaign
found the unsecured debt to income ratio for the poorest families rose from 55% to 110% between 2015 and 2017.
According to the World Bank and the Jubilee Debt Campaign
, a UK based financial pressure movement, between 2015 and 2017 Africa's external debt payments increased.
Sarah-Jayne Clifton, director of the Jubilee Debt Campaign
, said the figures showed "we need the government to take urgent action, not only to rein in rip-off lenders, but also to tackle the cost of living crisis and cuts to social protection that are driving people towards the loan sharks in the first place."
Lebanon is one of the countries more exposed in the hard currency space, especially given its high debt-GDP ratio." (A more highly valued dollar weakens local currency debt and makes dollar-denominated debt harder to finance.) Lebanon, among others, spends about a third of government revenue on servicing debt, according to a report a fortnight ago from charity, the Jubilee Debt Campaign
. Timothy Ash, emerging market sovereign strategist at London-based BlueBay Asset Management, told Arab News that now was possibly "a critical time" for the Lebanese economy.
The Jubilee debt campaign
said that at the end of 2017, 28 countries were rated as in debt distress or at high risk of debt distress, up from 22 at the end of 2016, and 15 in 2013.
"The key message we want to get across is that more money flows out of Africa than goes in, and if we are to address poverty and income inequality we have to help to get it back," Tim Jones, an economist at the Jubilee Debt Campaign
said according to the Guardian.
A plea for a cancellation of part of the Philippines' foreign debt was actually made in December 2013, when the Jubilee Debt Campaign
, the local Freedom from Debt Coalition, the Jubilee South (Asia) and the Christian Aid launched a petition addressed to official lenders.
Dr David Golding CBE and Roger Chisnall, founding board members and co-chairs of the Jubilee Debt Campaign
, a linked organisation which launched in 2001 with Mr Peters' support, said: "We all shared Bill's conviction that, 'It is intolerable that we should go into the next millennium in a situation where the poorest quarter of the human family owes totally unpayable debt to creditors in the richest quarter'." He added: "Grassroots activists were committed to the continuation of the debt campaign after 2000, fearing that the promises made by politicians and creditors would be forgotten or diluted, without a vociferous body of campaigners.
The free meeting, organised by the Jubilee Debt Campaign
, runs from 7pm to 9pm.
The event will be free for paid-up members of the Birmingham Fabians, the Methodist Tax Justice Network and Jubilee Debt Campaign
. For all other attendees there will be a charge of PS5 to cover costs.
heavily indebted Zimbabwe spent 49 million pounds repaying the cost of the Hawks, according to a response to a freedom of information request from the Jubilee Debt Campaign
, accessed by The Guardian.