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12 Jul 22
The prime minister and president of Sri Lanka will resign after the country’s economic crisis led to months of protests.
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13 Jun 22
Governments experiencing debt crises are set to spend less in 2023 than they did in 2019, despite the need to support their citizens in the face of surging food and fuel prices, figures have shown.
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10 Jun 22
Rising interest rates aimed at combating runaway global inflation are putting some governments, including in middle-income countries, at risk of debt distress, the World Bank has warned.
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20 May 22
Sri Lanka’s central bank has confirmed the government has defaulted on foreign debt repayments for the first time in the country’s 74-years of independence.
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21 Feb 22
G20 finance ministers and central bank governors have failed to reach an agreement on making changes to their debt restructuring framework that had been proposed by the International Monetary Fund...
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11 Feb 22
The International Monetary Fund wants G20 finance leaders to strengthen their debt restructuring framework to better help crisis-hit countries out of default.
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28 Jan 22
Honduras must restructure its debts if it is to afford servicing costs, according to new Honduras president Xiomara Castro at her swearing-in ceremony, but a minister has since taken a more moderate...
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24 Jan 22
The world’s debt crisis has been tipped to worsen as a result of the interest rate hikes projected for 2022.
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12 Oct 21
Debt problems faced by poorer countries require a “comprehensive” solution, the World Bank chief has said after publishing his organisation's latest review of debt statistics.
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21 Sep 21
A group of Lebanon’s international creditors has called for the new government to begin the debt restructuring process swiftly and to start talks with the International Monetary Fund.
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25 Aug 21
New president Hakainde Hichilema vowed to reduce Zambia’s large public debt after his convincing election victory earlier this month, saying the budget has become “overwhelmed” by servicing costs.
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23 Jun 21
Argentina has reached an agreement with debtors to defer the majority of a $2.4bn loan repayment for nine months to avoid another default.
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25 May 21
Restructuring Lebanon’s public debt could set off an economic “doom loop” with serious consequences for the Lebanese banks that hold the assets, a ratings agency has warned.
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12 Apr 21
Undeserving private sector lenders could benefit from International Monetary Fund action aimed at helping poorer countries recover from Covid-19, a former deputy director of the fund has warned.
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1 Apr 21
Private creditors are making big profits from lending to developing countries during Covid-19. With poorer governments left with less to spend on tackling the pandemic, the need for debt cancellation...
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15 Dec 20
The global debt crisis is making it difficult for development banks to help countries through the pandemic, with money going to creditors rather than public services, the World Bank’s managing...
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11 Dec 20
The Zambian government is seeking a financing arrangement with the International Monetary Fund to support its reform efforts after defaulting on a debt payment last month.
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13 Nov 20
A framework to help highly indebted developing countries through the Covid-19 crisis has been agreed by G20 finance ministers, but campaigners have said it fails to create a permanent solution to the...
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13 Oct 20
The world’s poorest countries were at risk of debt crises even before Covid-19, with their debts climbing to the highest ever levels in 2019.
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18 Aug 20
Poor countries’ debt payments have reached their highest level since 2001, having grown by 115% in the past decade, new analysis has found.
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24 Mar 20
Increased borrowing costs and falling income from commodities amid the coronavirus pandemic are making poor countries’ debt crises even worse, according to the Jubilee Debt Campaign.
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9 Mar 20
Lebanon is set to default on its debts after the prime minister stopped a bond payment he said the government cannot afford while Lebanese people suffer.
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9 Jan 20
Burdensome debts are forcing poor countries to cut public spending - a situation campaigners have described as a “recipe for disaster”.
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20 Dec 19
Poor countries’ debt reached a record $55trn in 2018, after the fastest surge in nearly 50 years, a World Bank study has found.
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4 Apr 19
Urgent action is being demanded to tackle a growing debt crisis among poor countries, whose foreign debt payments soared by 85% between 2010 and 2018.
12 Jul 22The prime minister and president of Sri Lanka will resign after the country’s economic crisis led to months of protests.
13 Jun 22Governments experiencing debt crises are set to spend less in 2023 than they did in 2019, despite the need to support their citizens in the face of surging food and fuel prices, figures have shown.
10 Jun 22Rising interest rates aimed at combating runaway global inflation are putting some governments, including in middle-income countries, at risk of debt distress, the World Bank has warned.
28 Jan 22Honduras must restructure its debts if it is to afford servicing costs, according to new Honduras president Xiomara Castro at her swearing-in ceremony, but a minister has since taken a more moderate...
21 Sep 21A group of Lebanon’s international creditors has called for the new government to begin the debt restructuring process swiftly and to start talks with the International Monetary Fund.
25 Aug 21New president Hakainde Hichilema vowed to reduce Zambia’s large public debt after his convincing election victory earlier this month, saying the budget has become “overwhelmed” by servicing costs.
23 Jun 21Argentina has reached an agreement with debtors to defer the majority of a $2.4bn loan repayment for nine months to avoid another default.
12 Apr 21Undeserving private sector lenders could benefit from International Monetary Fund action aimed at helping poorer countries recover from Covid-19, a former deputy director of the fund has warned.
1 Apr 21Private creditors are making big profits from lending to developing countries during Covid-19. With poorer governments left with less to spend on tackling the pandemic, the need for debt cancellation...
13 Nov 20A framework to help highly indebted developing countries through the Covid-19 crisis has been agreed by G20 finance ministers, but campaigners have said it fails to create a permanent solution to the...
24 Mar 20Increased borrowing costs and falling income from commodities amid the coronavirus pandemic are making poor countries’ debt crises even worse, according to the Jubilee Debt Campaign.
4 Apr 19Urgent action is being demanded to tackle a growing debt crisis among poor countries, whose foreign debt payments soared by 85% between 2010 and 2018.
