The Jubilee Debt Campaign has called for all of Egypt and Tunisia’s ‘unjust debts’ to be cancelled unconditionally, ahead of a G8 discussion on north Africa.
MPs have voted for a bill to restrict 'vulture funds' – companies that buy up poor country debts cheaply, and then sue for massive profits. However, the Conservative Party has been criticised for slowing down the Bill's progress.
As well as responding to the devastating earthquake in Haiti with immediate relief, Christian Aid are calling for the full cancellation of Haiti's debt of US$890 million.
Debt campaigners welcome the decision of the Paris Club of creditors to cancel US$347 million of Togo's debt and impose a moratorium on remaining payments to these creditors until 2011.
For Zambia to be secure from the risk of high debts and poor management of debt resources, a comprehensive debt management strategy should be enforced a new report has said.
A new report from the World Bank and International Monetary Fund has revealed that ‘vulture funds’ and other commercial creditors are chasing a staggering $1.8 billion from some of the world’s poorest countries - after they have had debts cancelled by rich countries.