> American “vulture” investors, including a top funder of the Republican Party, have demanded that #African nations pay over half a billion dollars for old debts, for which the investors paid only a few million. One New York vulture speculator, #PeterGrossman of FG Capital Management, is demanding $100 million from the Democratic Republic of #Congo...
https://www.democracynow.org/2011/11/22/reporter_greg_palast_exposes_how_us
#GrePalast #DN! #DropTheDebt #VultureFunds

> Of #Zambia’s external debt, 46% is owed to #Private+enders, 22% to China, 8% to other governments and 18% to multilateral institutions. #China is among the government lenders to agree a longer debt repayment schedule that private lenders, including banks, have so far resisted, #DebtJustice said.
A #BlackRock spokesperson said it wanted “a sustainable long-term outcome..."
https://www.theguardian.com/world/2022/sep/16/zambia-debt-lenders-urged-to-cancel
#DropTheDebt #Jubilee

> The #Jubilee2000 call for debt cancellation is welcome and merits support, but is open to some qualifications. The debt does not go away. Someone pays, and the historical record generally confirms what a rational look at the structure of power would suggest: risks tend to be socialized, just as costs commonly are, in the system mislabelled “#FreeEnterpriseCapitalism.”
https://chomsky.info/19980515/
#NoamChomsky in 1998 on the #Jubilee #DropTheDebt campaign.

> .. “It is unfair for BlackRock and other lenders to make massive profits out of Zambia’s #DebtCrisis. If BlackRock refuse to cancel #Zambia’s debt, then the #UK and other# G20 countries should support Zambia to stay in default on #BlackRock, and pass legislation to make them accept #DebtCancellation.”
https://debtjustice.org.uk/press-release/blackrock-could-make-110-profit-out-of-zambias-debt-crisis
#Jubilee I learned a lot from the #Jubilee2000 movement. A RT by @JayatiGhosh brought my attention to this example of #OdiousDebt, #DropTheDebt

RT @Another_Europe: 🎉BREAKING: Creditors halt Ukraine debt payments.

We couldn’t have done this without public pressure. Thank you @CarolineLucas @labourlewis @debtjustice & all our members & supporters.

https://www.anothereurope.org/campaign-win/

Join us & fight to fully #DropTheDebt : https://www.anothereurope.org/join/

🐦🔗: https://nitter.eu/julie4north/status/1550240731159306240