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New focus papers on DSSI and IMF forecasts out now
Focus paper 3: "A debt moratorium for whom?" Given that the G20 Debt Service Suspension Initiative (DSSI) currently is more or less the only group-wise debt relief initiative in the COVID19-context, and given that one of its most important limitations so far has not been resolved, which is the…
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Global Week of Action for Debt Cancellation – A Call to Action
The multiple crises of the COVID-19 pandemic, the intensified economic recession, and the climate emergency has spotlighted the urgency for raising the calls for debt cancellation and addressing unsustainable and illegitimate debt. In this context, many movements, organizations and citizens groups are coming together for a Global Week of Action…
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New Campaign: Climate Justice Needs Debt Relief
+++ The campaign ended in December 2020. Thanks to everyone who participated! We promise: We will keep climate justice on our agenda! +++ Hurricane Maria swept across the Caribbean island of Dominica in 2017, completely devastating it. It was a natural, but also a financial disaster for the island nation,…
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Global Sovereign Debt Monitor 2020
The global debt crisis is gripping more and more countries in the Global South. It is threatening the livelihoods of millions of people. At the same time, many over-indebted countries are suffering massively from the impacts of climate change. Bone crushing debt servicing is hampering urgently needed adaptation measures. Download…
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Focus Paper: Action, not obstruction!
The erlassjahr.de 2018 Global Sovereign Debt Monitor showed that the global debt crisis has arrived. For more than a year now, the International Monetary Fund (IMF) has also been ringing alarm bells. Unlike past debt crises, these alarm signals are not being ignored or denied by representatives of public and…
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Global Sovereign Debt Monitor 2019
Currently, 122 out of 154 countries examined are critically in debt, just under 80 per cent. The situation is particularly alarming in Bhutan, Mongolia, Gambia, Cape Verde Islands, Jamaica, Bahrain and Lebanon. In almost three-quarters of the 122 critically indebted countries, the majority of debt indicators has worsened over the…
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Arguments against a Sovereign Debt Workout Mechanism
In most countries, if a person or a company is not able to repay its debt, national insolvency laws settle how much the creditors are entitled to. If necessary, the court decides this question - the judge of course has to be impartial. This is not only fair to everyone…
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Africa – on the creditors’ hook
Is Africa once again on the hook of rich creditors and does it steer into a next continent-wide debt crisis? The conference on 6 December 2018 centers around dramatically increasing debt indicators in lots of African countries. There will be simultaneous German/English translation. Participation is free, registration is requested.
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Global Sovereign Debt Monitor 2018
119 countries in the Global South are critically in debt. The debt trend continues: in 87 of these countries, the situation has worsened in the last four years. 13 countries have ceased payments to creditors. These are the results of the Global Sovereign Debt Monitor 2018.
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Jubilee Caribbean demanding debt cancellation in case of natural catastrophes
Every eleven years, the small island states in the eastern Caribbean are hit by category 5 hurricanes following the Saffir-Simpson Hurricane Wind Scale. Last year, the hurricanes ‘Irma’ and ‘Maria’, measured with a wind velocity up to 300 kilometres per hour, caused destruction of more than double the annual economic…
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