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Tim Jones

@tim-jones6.bsky.social
302 followers 138 following 91 posts

Policy Director at Debt Justice UK, views are my own or someone else's

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Tim Jones @tim-jones6.bsky.social · 21/09/2026
There's been plenty in smaller and poorer countries over the last 10 years
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Tim Jones @tim-jones6.bsky.social · 07/09/2026
External debt payments of lower income countries are at the highest level for over 30 years. Creating a fast efficient and fair debt relief process is essential. debtjustice.org.uk/press-releas...
debtjustice.org.uk
Lower-income country debt payments hit highest level since 1990 as hedge funds swoop in - Debt Justice
Average debt payments for 56 lower-income countries reached 19.2% of government revenue in 2025, the highest level since 1990.
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Tim Jones @tim-jones6.bsky.social · 07/09/2026
UK leadership on ensuring private creditors participate in debt relief is also vital, to convince large government creditors, such as China, to make the changes needed to the debt relief process.
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Tim Jones @tim-jones6.bsky.social · 07/09/2026
Vulture funds began suing Ethiopia in the UK High Court in order to pressure the East African country into a worse deal. Chad kept paying Glencore in full, because Glencore could have used the UK Courts to seize Chad's oil if the Central African country had defaulted.
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Tim Jones @tim-jones6.bsky.social · 07/09/2026
And with 90% of lower income country debt contracts owed to private creditors governed by English law, it can change the law so that countries cannot be threatened with being sued while negotiating debt relief.
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Tim Jones @tim-jones6.bsky.social · 07/09/2026
The UK government could drive forward the changes needed to the process. It becomes the President of the G20 in a few months.
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Tim Jones @tim-jones6.bsky.social · 07/09/2026
Ethiopia made no progress in getting debt relief while paying creditors in full for two-and-a-half years. Chad got no debt relief after continuing to pay Glencore in full.
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Tim Jones @tim-jones6.bsky.social · 07/09/2026
This is urgent as Senegal has just become the 5th country to apply for debt relief through the Framework. It's not got off to a great start - Senegal feels that it needs to keep paying creditors while negotiating relief, which inevitably leads to creditors delaying negotiations while getting paid.
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Tim Jones @tim-jones6.bsky.social · 07/09/2026
New from @savechildrenuk.bsky.social and @debtjustice.bsky.social the changes needed to G20 debt relief: 1 More debt relief 2 Suspension of payments during negotiations 3 Legislation to stop holdouts 4 Equal treatment of creditors 5 Faster process resourcecentre.savethechildren.net/document/now...
resourcecentre.savethechildren.net
Now is The Time to Act: Six Reforms for the G20 Common Framework for Debt Treatments - Save the Children’s Resource Centre
The most comprehensive source of information on Child Rights
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Tim Jones @tim-jones6.bsky.social · 07/07/2026
It was 11 years ago: www.bbc.co.uk/news/uk-engl...
bbc.co.uk
London protesters 'chase UKIP leader Farage out of pub'
Anti-UKIP protesters invade a pub in south London where the party leader is having lunch with his family.
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Debt Justice @debtjustice.bsky.social · 26/06/2026
China has called for "legal changes" to "curb malicious litigation by bond investors" - ie, it is asking the UK to stop vulture funds using UK Courts to bypass international debt relief agreements theedgemalaysia.com/node/808299
theedgemalaysia.com
China wants ‘malicious’ bondholders curbed in poor-nation relief
China called for global measures to curb what it described as “malicious litigation” by bondholders in debt relief cases, saying such action is needed to protect a Group of 20 (G20) restructuring…
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Joseph Cotterill @jsphctrl.ft.com · 19/06/2026
A whistleblower alleged that Crawford Capital, a ‘digital payments’ firm with UK connections, siphoned the tax revenues of one of the world’s poorest and most fragile countries on a massive scale. Then he was abducted. www.ft.com/content/5056...
ft.com
Whistleblower kidnapped after explosive South Sudan revelations
Businessman abducted in Kenya after revealing alleged diversion of state funds via payments platform
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Tariq Panja @tariqpanja.bsky.social · 09/06/2026
In his first interview since being kicked out of the US, FIFA referee Omar Artan tells’s the NYT’s Matt Bigg that the biggest dream of his professional life has been shattered. The World Cup ref was questioned for 11 hours, held in a cell and then dumped on a plane. www.nytimes.com/2026/06/09/w...
nytimes.com
Somali Referee Says His World Cup Dream Is Dashed After U.S. Denies Entry
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Andrew Fischer @andrewmfischer.bsky.social · 31/05/2026
A counterintuitive, for some controversial, argument: Aid that is considered to be funding #socialprotection is mostly not spent on social protection given that these expenditures, esp #cashtransfers (CTs), are almost entirely in domestic currency. A thread on my latest article. See:
cogitatiopress.com
Mirages of External Finance in Social Protection: the Politics of Aid Viewed Through the Monetary Transfer Dilemma | Article | Politics and Governance
Andrew M. Fischer
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Tim Jones @tim-jones6.bsky.social · 22/05/2026
Ethiopia makes clear it won't pay bondholders anything until they accept a debt relief deal similar to that agreed by China and France www.mofed.gov.et/blog/ethiopi...
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Jonathan Portes @jdportes.bsky.social · 20/05/2026
- Subsidising consumption in the face of a supply shock - reducing incentives to drive less/switch to EVs - using up limited fiscal space to help better-off drivers rather than the most vulnerable. Hard to think of a worse policy right now.
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Kevin Carey @kevincareywb.bsky.social · 18/05/2026
Kenya: "Finance Minister John Mbadi told the Citizen TV station that the finance ministry and energy ministries hoped to meet public transport operators later on Monday to discuss a solution, noting that the current prices were already subsidised." www.cnbcafrica.com/2026/protest...
cnbcafrica.com
Protests erupt over Kenya fuel price hikes, strike strands commuters
NAIROBI, May 18 (Reuters) – Protests over fuel price hikes prompted by the Iran war erupted in several Kenyan towns on Monday, including a nationwide public transport strike that stranded commuters an...
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Tim Jones @tim-jones6.bsky.social · 27/04/2026
As always with Pakistan, all creditors have an interest in rolling over the debt because any restructuring would have huge issues around multilateral participation. But that leaves an external debt burden which has been a huge constraint for decades.
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Tim Jones @tim-jones6.bsky.social · 27/04/2026
I'm not saying any of this is easy, just that there are things that can be done (and yes only likely if the debtor is on board with the strategy)
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Tim Jones @tim-jones6.bsky.social · 27/04/2026
The Fund and other creditors could say they'll support a debtor to default on any creditor who withdraws financing assurances, using their Lending into Arrears policy.
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Jo Michell @jomichell.bsky.social · 22/04/2026
This is why people on the left who claim to care about the global south should regulate their enthusiasm for universal household bailouts in rich countries.
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Gonçalo Pina @alvespina.bsky.social · 13/03/2026
The Strait of Hormuz is closed because of Iran. . . . . . The Strait of Hormuz is closed because of the US.
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Joseph Cotterill @jsphctrl.ft.com · 01/04/2026
Nigeria is doing Africa's biggest sovereign total return swap loan yet - $5bn against $6.6bn in naira bond collateral, after Senegal's $1.3bn $ Angola's roughly $2.5bn to date. These deals are sweeping African government borrowing as international bond markets have closed. placng.org/i/wp-content...
placng.org
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Tim Hirschel-Burns @timhirschelburns.bsky.social · 30/03/2026
The energy shock has well and truly reached Africa now www.bloomberg.com/news/article...
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Kevin Carey @kevincareywb.bsky.social · 27/03/2026
EM Debt (Reuters): "But if the uncertainty persists, it could increase the appeal of other avenues of raising money - borrowing directly from lenders through complex transactions such as total return swaps or private placements ..."
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Mayor of London, Sadiq Khan @london.gov.uk · 27/03/2026
2.7 million Londoners. One generational transformation. Our Renters’ Rights Enforcement Fund ensures the biggest expansion of rights in years is backed by the power to uphold them. We’re helping renters know their rights and giving organisations the resources to uphold them.
standard.co.uk
Sadiq Khan launches £400,000 fund to help renters sue their landlords
The fund is set to become available when the Renters’ Rights Act comes into force on May 1
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Jo Michell @jomichell.bsky.social · 26/03/2026
Bad headline. Philippines has already imposed a state of emergency. There is fuel rationing already under way in many countries; cooking gas queues in Nepal; Sri Lanka urging firms to shut on Wednesdays; Pakistan closing schools and moving universities online. www.theguardian.com/business/202...
theguardian.com
Middle East conflict will damage UK’s economy ‘more than any other’
Organisation for Economic Cooperation and Development says UK economy will grow by just 0.7% this year
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Joseph Cotterill @jsphctrl.ft.com · 23/03/2026
How Senegal used total return swaps backed with its domestic bonds to tap cash from international lenders despite the fallout from a hidden debt scandal, on terms that haven't been shared with the IMF. It's not the only government using swaps like this... www.ft.com/content/fbd6...
ft.com
Senegal tapped €650mn of undisclosed borrowing in bid to avoid default
West African nation agreed total return swaps with AFC and FAB months after separate hidden debt scandal came to light
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Tim Jones @tim-jones6.bsky.social · 23/03/2026
Really interesting and valuable reporting - have you found out what the floating rate used in the loans is? "interest payments of 3.5 to 4 per cent over a floating rate" "paying a floating rate plus about 5 per cent"
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Tim Jones @tim-jones6.bsky.social · 16/03/2026
Senegal managed to pay $471m to bondholders at the end of last week. But only by delaying payments to France, UK, Italy and Spain. www.africanews.com/amp/2026/03/...
africanews.com
Africanews | Senegal makes $471 Million debt payment but faces tough times head
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Kevin Carey @kevincareywb.bsky.social · 13/03/2026
"Senegal is falling behind on payments to other lenders such as France, Britain, Italy and Spain, five sources familiar ​with the situation told Reuters ..."
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Debt Justice @debtjustice.bsky.social · 11/03/2026
Over 1,000 lives have already been lost since the US and Israel’s attack on #Iran. Alongside immense human suffering, the war is already having huge economic consequences that extend far beyond the region. A 🧵 on the impacts, and what could happen to countries in debt if the situation continues
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Debt Justice @debtjustice.bsky.social · 11/03/2026
"What are the social and global ramifications of poor or prosperous debt policy?" Our Tim Jones spoke to The Policy Podcast: open.spotify.com/episode/5ivX...
open.spotify.com
Austerity and Debt Sustainability: Tim Jones
The Policy Podcast · Episode
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Gavin Jackson @gavinjackson.bsky.social · 10/03/2026
Some examples of how the energy crisis is affecting South Asia. 1. Pakistan will close schools for the next two weeks, get government employees to work from home and universities will shift to online learning. www.reuters.com/world/asia-p...
reuters.com
Pakistan to close schools, take other measures to cut energy as oil spikes
Pakistan's Prime Minister Shehbaz Sharif ‌said on Monday that schools would close for two weeks and office workers would work more from home as he announced a range of measures to cut fuel use and gov...
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Lomelindi12 @lomelindi12.bsky.social · 04/03/2026
Ah, Private Eye Day…
Private Eye cover with photos of Trump in his “war room” suggesting the Iranian offensive was to distract from the Epstein files
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Tim Hirschel-Burns @timhirschelburns.bsky.social · 20/01/2026
There are so many climate-related disasters that upend the lives of entire communities or regions while scarcely registering in the places most responsible for them. Starting a running thread of these increasingly-frequent events
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Tim Jones @tim-jones6.bsky.social · 17/02/2026
Indunil de Silva finds debt problems increase the more is owed to external private lenders: "reducing reliance on expensive private market borrowing in favor of official ... financing is essential for debt sustainability in developing economies" link.springer.com/article/10.1...
link.springer.com
Borrowing from private creditors: blessing or curse? Evidence from the unfolding sovereign debt crisis - Journal of Economics and Finance
Journal of Economics and Finance - The aim of the study is twofold. First, although numerous empirical studies examine how overall debt levels and macroeconomic factors influence default...
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Tim Jones @tim-jones6.bsky.social · 11/02/2026
Brazil borrowing in USD at 6.25% for 10 years, and 7.25% for 30 years. Seems quite pricey.
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Jim Waterson @jim.londoncentric.media · 06/02/2026
so a month ago I was reading @markpackuk.bsky.social’s speech on Twitter in the lords and there were obviously fake stats the government used to justify Twitter’s UK reach and its continued importance to British audiences Rob has now found the source of the data was… Twitter
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Iolanda Fresnillo @ifresnillo.bsky.social · 03/02/2026
This is precisely why we need debt legislation in key jurisdictions like the UK and New York, and why we need a broader process to reform the debt architecture, including debt resolution rules and restructuring mechanism ... this is through a UN framework convention on sovereign debt!
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Debt Justice @debtjustice.bsky.social · 02/02/2026
Vulture funds are suing Ethiopia in London. They are demanding far more in debt payments than other creditors such as France and China. We need a Debt Justice Law now. debtjustice.org.uk/news/reactio...
debtjustice.org.uk
Reaction from Debt Justice to bondholders suing Ethiopia - Debt Justice
Official creditors were right to reject deal, the UK now needs to pass legislation to protect Ethiopia from legal action
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Debt Justice @debtjustice.bsky.social · 17/12/2025
Ethiopia's bondholders are trying to get paid 50% more than government creditors. This would mean they'd make 100% profit after 'debt relief'. New research by us and Afrodad: debtjustice.org.uk/press-releas...
debtjustice.org.uk
Bondholders seeking massive profits from Ethiopian ‘debt relief’ - Debt Justice
Bondholders are pushing to get paid over 50% more than Ethiopia’s government creditors. These proposals could lead to bondholders making 100% profit.
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Paddy Carter @paddycarter.bsky.social · 16/12/2025
This from John MacIntyre on the track record of the WB and IMF in Senegal, and Mackey Sal's administration, is blistering. open.substack.com/pub/johnmcin...
open.substack.com
What do the IMF and the World Bank owe Senegal ?
There are exceptions to the rule that “Un mauvais arrangement vaut mieux qu’un bon procès »
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Gabriel Sterne @gabrielsterne.bsky.social · 14/12/2025
An obituary to the IMF's chief nemesis and a lovely caring man, Peter Doyle . Thanks to my co-author and substack host @generaltheorist.bsky.social moneyinsideout.substack.com/p/peter-doyle
moneyinsideout.substack.com
Peter Doyle
Tribute to a good salty man
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Kevin Carey @kevincareywb.bsky.social · 03/12/2025
Sri Lanka: "Our initial estimate is that we will need about six to seven billion dollars for the reconstruction," said Prabath Chandrakeerthi, the Commissioner-General of Essential Services who is leading the massive recovery effort." #Ditwah sg.news.yahoo.com/sri-lanka-co...
sg.news.yahoo.com
Sri Lanka counts cyclone cost as toll hits 465
Sri Lankan authorities said Wednesday they would need some $7 billion to rebuild homes, industries and roads destroyed by Cyclone Ditwah, which has left at least 465 people dead so far.Hopes have fade...
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Jo Michell @jomichell.bsky.social · 02/12/2025
This stuff really is snake oil. Would be a great shame if @zackpolanski.bsky.social fell for it. Politically it’s a one way ticket to nowhere. Important under current circumstances to have an articulate and credible voice on the left. Zack needs to steer clear. www.taxresearch.org.uk/Blog/2025/11...
taxresearch.org.uk
MMT matters because it reveals power – and gives us back the right to choose
I think modern monetary theory (MMT) matters. That is not because it is perfect, because no theory is. Instead, it is because it explains something that almost no one in mainstream economics has ever ...
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Debt Justice @debtjustice.bsky.social · 02/12/2025
We’re joining @BigGive's #ChristmasChallenge! That means from TODAY until 9 December, you can make double the difference with one donation! Help win debt justice for millions around the world: donate.biggive.org/campaign/a05... #ChristmasChallenge #BG25 #GivingTuesday
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Kevin Carey @kevincareywb.bsky.social · 01/12/2025
"In this round, it isn’t Credit Suisse’s lending in question, but how it handled payments coming into a Credit Suisse client account from Mozambique’s Finance Ministry." www.wsj.com/finance/ubs-...
wsj.com
UBS Charged in Switzerland Over Credit Suisse ‘Tuna Bonds’ Scandal
The charges are the latest in a saga that started around 2013, when Credit Suisse arranged debt deals for state-owned companies in Mozambique.
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Kevin Carey @kevincareywb.bsky.social · 28/11/2025
Senegal: "Finance Minister Cheikh Diba told parliament that Senegal needed a "very large amount" of financing totalling 6,000 billion CFA francs ($10.60 billion) annually on average ..."
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