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Under the radar

Private sector debt and coronavirus in developing countries The G20 must step in and compel private creditors to cancel the debts of developing countries to avoid the loss of many more lives. In the global south, coronavirus is leaving a trail of devastation - from widespread loss of life from the virus itself, to huge economic disruption that has left hundreds of millions of people, who were already struggling to make ends meet, without jobs or sufficient food. Despite this huge economic shock, many developing countries are continuing to pay off debts to rich countries, public institutions like the World Bank and IMF, and some of the richest banks and hedge funds in the world. This means they have less money to meet the immediate needs of the population. This briefing aims to shine a light on the debt owed to private creditors by five African countries - Ghana, Kenya, Nigeria, Senegal and Zambia - and it outlines the steps which the G20 needs to take immediately to avert further economic chaos. It highlights the central role of enormous financial corporations like BlackRock, HSBC, Goldman Sachs, Legal & General, JP Morgan and UBS, which have become increasingly important in the world of sovereign debt. Private creditors’ share of the foreign debts of low- and lower-middle income governments increased from 25% in 2010 to 47% in 2018.1 Multi-trillion dollar asset manager BlackRock alone holds close to US$1 billion of ‘Eurobonds’ in Ghana, Kenya, Nigeria, Senegal and Zambia through a number of funds.

Keeping hope alive: Christian Aid's work on peace - Impact study 2019

Without an explicit focus on peace, there can be no sustainable development. This Impact Study, and accompanying case studies, share some of our story of taking peace seriously. Throughout our work in providing humanitarian assistance and long-term development support, it has become clear that we cannot ignore the reality of violence. Peace and justice matter to us as a faith-based organisation and we seek to respond to real challenges of building peace with integrity, respect, courage and hope. From Violence to Peace lays down our hopeful vision that a more peaceful reality free from poverty, violence and injustice is possible. This study shares key examples of impact and some things we’ve learnt along the way. Key facts In 2016, more countries experienced violent conflict than at any time in nearly 30 years. If current trends persist, by 2030 – the horizon set by the Sustainable Development Goals – more than half of the world’s poor will be living in countries affected by high levels of violence. (OECD). Violent conflict has spiked since 2010, with two billion people now living in countries where development outcomes are affected by fragility, conflict, and violence (World Bank, 2018). Much of this violence is due to recurring violence and protracted conflicts. It is estimated that 135 different countries have experienced conflict recurrence – a pattern that is deepening. We stand in solidarity with our local partners – households, community organisations and local leadership who live through conflict and violence first hand. We want governments, faith institutions and communities to want and work for peace in their societies and to keep hope alive. Peace is not something fluffy and aspirational. Peacebuilding can and does work.

Africa rising? Inequalities and the essential role of fair taxation

Joint report with Tax Justice Network Africa (TJN-A) reveals Africa's much-touted growth is happening alongside worsening income inequality trends.

Breaking the curse: transparent taxation and fair taxes

This paper looks at mining taxation and transparency in seven African countries: Ghana, Tanzania, Sierra Leone, Zambia, Malawi, South Africa and DRC.