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A new report by the Jubilee Debt Campaign Debt shows burdens in the most impoverished countries are increasing, 10 years after the G8 summit committed to cancel debt cdeveloping country debts.
Lending levels to the most impoverished countries in the world have tripled, ten years after the G7 finance ministers agreed a debt cancellation deal for low income countries.
Jubilee Debt Campaign has joined a call by more than 30 organisations across Asia for Nepal to receive immediate and unconditional debt cancellation.
It is not the people of Greece who have benefitted from bailout loans from the IMF, EU and European Central Bank, but the European and Greek banks which recklessly lent money to the Greek State in the first place.
The election of anti-austerity coalition Syriza in the parliamentary elections in Greece opens up a new path for tackling debt, say reformers.
Several developing countries are failing to meet international development goals after rich countries reneged on a pledge to deal with their debts.
The International Monetary Fund has agreed in principle to lend $5.3 billion to Pakistan over three years.
Global poverty campaigners have called on the public to remember the original meaning of Jubilee during this weekend as they launch a ‘Jubilee for Justice’
Debt campaigners welcome the decision of the Paris Club of creditors to cancel US$347 million of Togo's debt and impose a moratorium on remaining payments to these creditors until 2011.