31 countries now in debt crisis

16.05.2018

Our new research reveals that more countries have fallen into debt crisis. The figures are released on the 20th anniversary of the G8 protests in Birmingham, when we stood together and called for developing country debts to be cancelled. The Jubilee movement won $130bn of debt cancellation for some of the most impoverished countries.

Now, 20 years on, we are witnessing another debt crisis emerging. Debt cancellation is needed, but to break the cycle of crises being repeated, the underlying causes of debt dependence must be tackled. We need to re-write the rules of the financial system. Read our blog about the legacy of the protests in 1998, and what we still need to achieve.

In other news, we are looking for three thoughtful, passionate and committed people to join our Board of Trustees. We have a guest blog by Ilyas Nagdee about the disproportionate impact of student loans on black and brown communities. And we report that the UK is willing to back loans to the Malaysian government for weapons.

31 countries in crisis

31 countries are now in debt crisis across the world, up from 27 a year ago. There are a further 82 at risk of a crisis, as rising global interest rates threaten to make things worse. Read more and view our map of crises around the world.

TRUSTEE VACANCIES

Are you passionate about fixing the broken finance system? Find out about the skills and experience we're looking for and how to apply. We particularly encourage applications from women and from BAME candidates. Find out more.

STUDENT DEBT

The marketisation of the higher education sector and rocketing student debts are having a significant impact on black and brown communities in the UK, writes Ilyas Nagdee, Black Students’ Officer at the National Union of Students. Read the guest blog.

LOANS FOR WEAPONS

The UK government is willing to back loans to Malaysia so it can buy Eurofighter jets from BAE Systems. The proposal takes no account of a recent scandal involving the Malaysian government and embezzled loans. Read more.