Extreme poverty is rising in Africa because African nations are stuck in a debt crisis that we, in the UK, can help end for free. This is because African debt is owed to private lenders and governed under English law. These lenders creditors currently have little incentive to participate in debt negotiations. We can help bring them to the table.

Hunger and extreme poverty are rising in Africa. The number of those who do not earn or produce enough to eat is over 400 million. African nations cannot afford to invest in the education, healthcare, and infrastructure they need to become more prosperous. In the UK, annual healthcare expenditure is over £4,000 per person. The Sub-Saharan average is just £62.

Even worse, these meagre…

Former Nemo Rangers chairman Seán Martin says clubs should not be asked to help reduce the debt of SuperValu Páirc Uí Chaoimh.

At last week’s monthly board meeting at the stadium on the Bank of the Lee, changes were brought in to help reduce the €31 million-plus debt on SuperValu Páirc Uí Chaoimh. These include an increase in admission to games and the reduction of clubs’ gate-receipt shares, among others.

Martin, currently a Fianna Fáil Councillor and former Lord Mayor of Cork and brother of recently elected Taoiseach, Micheál, isn’t happy with the idea of clubs being levied.

“Personally, I think there should be an upfront meeting between the officials involved and all clubs,” he said when speaking to The Echo on…

Russia’s economy is facing a potential surge in corporate bankruptcies, the Vedomosti business daily reported Monday, citing experts from a government-aligned think tank.

The Central Bank’s decision to raise its benchmark interest rate to 21% — its highest level since the invasion of Ukraine — in October 2024 has driven up business debt burdens.

More than 20% of manufacturing companies were paying interest costs exceeding two-thirds of their pre-tax profits (EBIT) at the end of 2024, compared to just 10% a year earlier, Vedomosti cited analysts at the Center for Macroeconomic Analysis and Short-Term Forecasting (CMASF) as saying in an analytical report.

The most affected sectors include investment-intensive…

The Global South is facing the worst debt crisis in 30 years. 54 lower-income countries, many in Southern Africa, are spending more on debt repayments than at any time in the last three decades. Countries such as Zambia are deeply affected by the debt crisis, which prevents government from vital public spending, such as on education and health, or climate mitigation, such as drought prevention.  

“We are calling out the global north countries to stand with us, to fight with us, to demand debt cancellation, to demand debt justice.”  ~ Zambian debt activist Precious Kalombwana said at a Debt Justice rally

This Jubilee Year,* ACTSA joins a coalition of UK organisations and activists from around the…

The trucking company found responsible for the deaths of four police officers on the Eastern Freeway will never pay its record $2.31 million fine after the business was declared insolvent despite previously earning millions of dollars in profit.

Connect Logistics was the operator of a truck that slammed into two police cars in the emergency lane after they pulled over a Porsche in Kew on April 22, 2020, killing Leading Senior Constable Lynette Taylor, Senior Constable Kevin King and constables Glen Humphris and Josh Prestney.

Compounding the…

Today, the Republic of Ecuador, with the support of The Nature Conservancy (TNC), the U.S. International Development Finance Corporation (DFC), the Inter-American Development Bank (IDB), and Bank of America, announced the financial close of a debt conversion facilitated by TNC’s Nature Bonds Program to advance the Amazon Biocorridor Program. The debt conversion refinanced approximately $1.53 billion of Ecuador’s international bonds, generating over $800 million in net fiscal savings for Ecuador by 2035. The transaction is also expected to secure approximately $460 million to support the Amazon Biocorridor Program (Programa Biocorredor Amazónico, BCA) for the conservation of terrestrial and freshwater ecosystems…

The number of people calling a helpline because they are worried about debt has increased significantly, it has been revealed.

National Debtline said it received 57% more calls in the first two weeks of January than it did in the same period last year.

The Money Advice Trust, which runs the helpline, said the first Monday of 2025 was its “busiest ever”, the BBC reported.

In a separate survey published on Monday, more than two-fifths (41%) of adults in the UK said they expect their financial situation to worsen this year, according to debt help charity StepChange.

Of that figure, 59% said this was because of higher energy bills.

Yahoo News UK looks at what help and advice is available for people who are struggling with debt.

Making a plan