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tim-jones6.bsky.social
Policy Director at Debt Justice UK, views are my own or someone else's
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📢 Live NOW: UK Parliament’s Backbench Debate on Debt in Low-Income Countries The world’s poorest countries are in a debt crisis stopping many from investing in healthcare and education. Thousands of our supporters emailed their MPs to attend. Watch live www.parliamentlive.tv/Event/Index/...

submitted 22 days ago • 1 comment

Ouch! Egypt has had to pay 8.625% interest on five-year dollar bonds, and 9.45% on eight-year www.bloomberg.com/news/article...

submitted 31 days ago • 0 comments

The IMF’s “exceptional access policy” is broken, says the IMF’s former general counsel. www.ft.com/content/221c...

submitted 31 days ago • 1 comment

📣 Today, we gathered at London Treasury for the #Jubilee2025 UK launch 'Cancel Debt, Choose Hope'! #Jubilee25 marks the biggest debt justice movement in 25 years. World leaders, it’s time to act: #CancelDebtChooseHope & cancel the debt for the Global South! ✊ #D4CJubilee25 #DebtforClimate

submitted 32 days ago • 1 comment

🚨 CAMPAIGN LAUNCH🚨 #Jubilee2025 is the BIGGEST global movement for #debtjustice in decades. It's the year we #CancelDebtChoseHope - and we just launched our new campaign alongside allies in the UK and beyond. SIGN the global petition today and let's make this massive https://buff.ly/3Cyh3W8

submitted 32 days ago • 0 comments

Bondholders rejected a debt relief proposal from the Ethiopian government that would still see them make 30% profit HESPI, AFRODAD and Debt Justice also estimate the proposal would mean bondholders would be repaid 20% more than government creditors debtjustice.org.uk/press-releas...

submitted 35 days ago • 0 comments

Private creditors managed to push Suriname into giving up hundreds of millions in future oil revenues. And government creditors response to that was not: "No way as that means private lenders will be repaid far more than us." But: "We want a piece of that action too."

submitted 38 days ago • 0 comments

It looks like some of Ghana's private creditors are pushing to be repaid in full and avoid the debt restructuring: 3news.com/business/u-s... [While Ghana has reached a deal with bondholders, negotiations are ongoing over several billions owed to other private creditors]

submitted 43 days ago • 1 comment

Hamilton Reserve Bank has blocked the restructuring of one of Sri Lanka's bonds and it is continuing to demand full payment in New York courts. This is exactly why we need laws to ensure private lenders take part in debt restructuring erlassjahr.de/en/news/sri-...

submitted 50 days ago • 0 comments

The IMF says Zambia has reached debt restructuring agreements with Chinese commercial lenders. But negotiations are ongoing with Western private lenders. That's now 9 months since the deal with bondholders, and 18 months since the deal with governments www.imf.org/en/Publicati...

submitted 50 days ago • 0 comments

Huge news! Dr @kpatricio.bsky.social and colleagues have drafted a Bill which is scheduled for debate in Parliament! Read more on this story below: essl.leeds.ac.uk/news/article...

submitted 77 days ago • 0 comments

The UK government has refused to answer a simple question: how many loans have been disclosed under the IIF debt transparency principles in the last 18 months The answer is 0 But the UK still claims it is a 'strong advocate' for transparency because it supports the useless principles

submitted 78 days ago • 0 comments

Law has a central role in both creating and resolving sovereign debt crises. I am very pleased to announce, alongside my colleagues Stephen Connelly and @celinetan.bsky.social, that our draft Debt Relief (Developing Countries) Bill—has been scheduled for debate in the UK Parliament! 🧵👇

submitted 78 days ago • 1 comment

The IMF have just published documents showing that Ghana's debt restructuring breaks the IMF's own policies. Debt relief is meant to reduce debt risk to 'moderate' with 'space to absorb shocks'. But in Ghana, any shock at all will move Ghana back to high risk.

submitted 79 days ago • 1 comment

World Bank Chief Economist Indermit Gill has written a Foreword to the Banks' International Debt report which cuts through the waffle on debt and outlines what is actually happening, and what is needed. He concludes:

submitted 85 days ago • 2 comments

I am on the Afropolitan podcast talking about the debt crisis in many African countries with Catherine Nzuki from @csis.org You can listen hear or wherever you get your podcasts: www.csis.org/podcasts/afr...

submitted 85 days ago • 0 comments

Critique of new IMF liquidity plan citing @odi.global economist Sherlyn Raga’s work on IMF forecasting errors on recent restructuring as a cautionary tale shorturl.at/R3AAZ

submitted 91 days ago • 0 comments

For an unvarnished report of the final hours of the disastrous COP29 & a poor deal on finance pushed on developing countries, see report by the excellent @3rdworldnetwork twn.my/title2/climate… 1/12

submitted 94 days ago • 1 comment

This is a world I don't understand, but a law firm has won an award for their work advising bondholders on the Zambia debt restructuring. Which I guess makes sense as the Zambia deal is amazingly good for bondholders. Less so for the people of Zambia. www.weil.com/articles/wei...

submitted 95 days ago • 1 comment

The IMF made $6.2 billion profit in the last year, and now has reserves of $33 billion www.imf.org/en/Publicati...

submitted 96 days ago • 0 comments

It will also mean the US is giving massively more debt relief to Ukraine than it required from private lenders such as BlackRock. But the US and Western governments maintain the fiction they require private creditors to be treated the same in debt relief negotiations.

submitted 99 days ago • 0 comments

Jaw dropping story of Pakistan’s breakneck solarisation and the economic consequences - in 9 months, the country’s generating capacity has been transformed, power prices have fallen sharply and oil imports crashed - but the established utilities are in trouble. www.bloomberg.com/news/article...

submitted 99 days ago • 2 comments

"How to fight the silent debt crisis engulfing the global south" by Former Vice-President of Nigeria Yemi Osibajo. Yes, yes, yes to this - and it's not as hard as vested interests try to make out: #CancelTheDebt

submitted 99 days ago • 0 comments

This is depressing - Fitch expect Ghana's debt restructuring with non-bond private creditors to be completed by June 2025. That is 18 months after the deal with bilateral creditors, and a year after bondholders

submitted 101 days ago • 1 comment