There are more slaves on the planet today, than there have ever been at any point in history. Ever. This does not even take into account those who operate under debt slavery – i.e. those who are not enslaved but have no means to get out of their situation – for example sweatshop workers. In […]
Debt around the world – winter 2013
Below are some developments from the world of global debt over the past few months. The Scottish Government launched its White Paper ‘Scotland’s Future’ on the 26th November. In this, debt relief is highlighted as a priority for international development, with the statement: “The Scottish Government will give careful consideration to the question of ‘unjust’ […]
Illegitimate Greek Debt
By Alice Picard, Jubilee Scotland Volunteer (All posts are the views of the author, not Jubilee Scotland as an organisation). I don’t know what you were up to this Tuesday 11 June 2013 but I was demonstrating in front of the Edinburgh International Conference Centre. Well, almost. Because despite long negotiations with the police, we never […]
External debt audits and fair and transparent arbitration – the case of Ecuador
On the 15th of December 2008 Ecuadorian President Rafael Correa took the unprecedented step of declaring that Ecuador would stop paying interest on commercial bonds owed by the government on the basis that they were ‘obviously immoral and illegitimate’. The decision came as a result of a comprehensive debt audit for which Ecuadorian civil society […]
Malawi’s debt relief enigma
What was the value of Malawi’s debt cancellation (received in September 2006)? If Malawi had received its debt relief with no hidden reductions and cuts, it would have had $101 million extra per annum free in its budget (the UK, in comparison, gave $180 million in 2006: SID, table 16.2). What it has really had […]
Jubilee Scotland and Jubilee Debt Campaign meet the ECGD
Kusfiardi’s last engagement was on Thursday the 5th of June, when we went with our colleague Sarah Williams from Jubilee Debt Campaign to meet officials from the Export Credit Guarantee Department, the UK government department who ensured – and are currently collecting repayments for – the bad loans that are the focus of our campaign. […]
The European Investment Bank by Cornelia Trogmann
Previously we examined the role of the Export Credit Guarantee Department (ECGD) and its role as the major UK government debt generator. Cornelia Trogmann here turns the spotlight on another lender funded by the UK government. The European Investment Bank (EIB) The European Investment Bank was established in 1958 as the long-term lending institution of […]
January Campaign Update on Indonesia
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, […]
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 […]