Campaigners in Mozambique have called for secret debts to be cancelled before the IMF lends to the country again, alongside a range of measures including public disclosure of the audit into the debts, mechanisms to hold leaders accountable for actions and greater tax collection from megaprojects in the country.
The Gambian government have said that former President Yahya Jammeh stole at least $50 million, and left the government with a debt of $1 billion. The most recent figure from the IMF is that the Gambia’s total government debt is $881 million.
While the focus over Syriza’s win in the Greek general election is understandably the EU and debt, the really big issue facing the anti-austerity coalition is much more deeply embedded and will take longer to solve – corruption driven by debt.
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.
Archbishop Hieronymos II of Athens and All Greece has warned the Greek government of a possible social upheaval if more austerity measures are ushered in by international financial institutions overseeing the sovereign debt crisis.