Jubilee Scotland is currently trying to convince the UK government to cancel the >£500 million it’s owed by Indonesia. This is a small goal within a much broader international objective, which is to promote the doctrine of ‘odious debt’. ‘Odious debt’ is a concept which enjoys some international credibility, but not nearly enough! Put simply, […]
Updates
Nigerian Debt Scam: UK not implicated
It’s general knowledge that the UK’s vast increase in development aid (ODA) from 05-07 consists largely of Nigeria’s debt buy-back. Net UK ODA increased by £2.5 billion 04-06, of which Nigeria’s debt cancellation counted for £1.7 billion. (Net ODA in 04 was £4.3 billion, in 06 it was £6.8 billion, as set out in DFID’s […]
G8 in Rostock: The State of Debt
The “Another World is Possible” rally in Rostock, 2nd June. At about 2.30pm, several thousand people dressed in black emerged from the ranks of the eighty-thousand peaceful demonstrators and marched at the police. Clashes started shortly afterwards. The police’s initial charges were limited, and did not disperse the group in black – though they did […]
Export Credit Debt owed to the UK
The previous post looked at debt owed to the UK government via DFID and CDC. Below is the result of a Freedom of Information request on debt owed to the UK export credit department run by the DTI. Most signifiantly is the percentage of Indonesian debt owed for arms related trade. While no breakdowns are […]
Lifting the Lid on UK debt
Lift the Lid on Bad Loans Research on UK debts April 2007 The debt campaign is entering new terrain. Coupled with the HIPC initiative, the Gleneagles debt deal in 2005 has provided debt relief for 22 countries so far with another 9 in the pipeline. Some countries like Malawi will have 90% of their debts […]
Disappearing debt relief
The debt relief offered to Zambia through the Heavily Indebted Poor Countries (HIPC) initiative would reduce the money available for human development. This is a surprising claim in a paper by John Weeks and Terry McKinley for the United Nations Development Programme (PDF here). When G8 Debt Deal cancellation (MDRI) is added, Zambia does see a […]
World Bank Debt Cancellation – a TOTAL scam?
On the face of it, the G8 debt deal is a scam. The money that qualifying countries save on debt repayments is almost entirely balanced by a corresponding cut in the aid that they receive from the World Bank. The G8’s debt deal seems to work like this: the financial flows out of the country […]
The Debt Tribunal in 2006
The day before the G8 Summit in Scotland, 2005, Jubilee Scotland held a public debate on what the prospects were for a real resolution to the global debt crisis. I was worried that the G8 mobilisations would bypass ordinary people in Edinburgh; that people would come along to the Make Poverty History march but never […]
Last year’s debt tribunal
Last year, we ran a successful event where we “mapped” the course of the discussion using argument mapping techniques. Our version of last year’s map has an overview of what happened during the last session. We’d welcome all comments to questions raised in this map in the comments box below. Spread the word…
Debt Tribunal meeting 5th July 2006
Come along to our event :: 5th July, 6pm at: Augustine United Church George IV Bridge Edinburgh In 2005 the G8 came to Scotland and announced “immediate 100% debt cancellation” for the world’s most impoverished countries. What did this mean?. Has it happened?. and if it has happened… what difference is it making? Hear from: […]
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