African governments owe three times more debt to private lenders than China
Hi everyone,
Today Debt Justice UK has launched new figures showing that African governments owe three times more external debt to private lenders than to China. The interest rates on private loans are double those on Chinese loans.
The figures have been reported today by Reuters:
https://www.reuters.com/world/africa/african-states-private-debts-three-times-that-owed-china-2022-07-11/
The full press release is here, and the briefing with the detailed figures here.
If you would like to help promote the research and story, here are three possible tweets:
One
African governments owe three times more debt to Western private lenders than China.
And private lenders have refused to take part in debt relief schemes.
It’s time to make them #CancelTheDebt
Two
African governments owe three times more debt to Western private lenders than China.
And private lenders charge the highest interest rates.
Private lenders must be made to #CancelTheDebt
https://www.reuters.com/world/africa/african-states-private-debts-three-times-that-owed-china-2022-07-11/
Three
The biggest block to debt cancellation is the refusal of private lenders to take part in debt relief.
Private debts are governed by English and New York law.
The UK and US must make private lenders #CancelTheDebt
Alternatively here are some tweets you could retweet:
https://twitter.com/tim_jones6/status/1546414700119949313
https://twitter.com/hidschow/status/1546426683082907648
Thank you,
Tim
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Tim Jones (He / Him)
Head of Policy
Debt Justice
