Jerome Phelps

Head of Advocacy at Debt Justice. Once upon a time Director of Detention Action and International Detention Coalition.

[Jerome Phelps @JeromeGPhelps]

Debt justice is essential to climate justice, and consequently to the future of the planet - my and @tess_woolfenden's piece for the excellent debt justice blueprint @ProgIntl https://t.co/hplsVTJpTU

[DebtJustice.bsky.social @debtjustice]

You can’t tackle the #climatecrisis without solving the #debt crisis🤔

Our powerful new video which explains why👇🏿

@debtgwa #AM2023 #DebtJustice #ClimateJustice #EconomicJustice #YouOweUs #GWoA2023

[Jerome Phelps @JeromeGPhelps]

#Zambia could be next to see savings from debt relief go straight into the pockets of the corporates, while the people face brutal austerity - we urgently need legislation in the UK and US to force private lenders to cooperate
https://t.co/CR0IddIlAl

[Jerome Phelps @JeromeGPhelps]

#Zambia’s deal with foreign governments over its unpayable debt should be a moment of hope in the #debt crisis – but more likely it will turn into just another payday for profiteering private capital. My piece in @jacobin https://t.co/D4RPYlptvQ

[Jerome Phelps @JeromeGPhelps]

The deal private lenders forced on Suriname shows their win-win casino in action – Suriname couldn’t pay, but lenders still get to make a profit, PLUS 30% of future oil revenues, locking the country into decades of fossil fuel exploitation
https://t.co/dkjh3cVQpL

[tim-jones6.bsky.social @tim_jones6]

Suriname's restructuring deal with bondholders will make creditors profit of between $170m and $980m (on a $675 million debt)

Speculators will be laughing all the way to the bank with the money they could make 🧵

#CancelTheDebt #StopCowboyLenders

[DebtJustice.bsky.social @debtjustice]

Debt is driving austerity and repression in #Kenya - people are in the streets protesting new taxes on housing and fuel that allow the government to pay private lenders #CancelTheDebt https://t.co/X8s2iTBZQJ

[DebtJustice.bsky.social @debtjustice]

Four years ago banks said they would publish the details of their loans to lower income governments

Just two banks have done so, disclosing six loans

$30 billion of loans remain hidden

If you want banks to do something, you need to make them

https://t.co/5ZtIxOEZsv

[Heidi Chow @hidschow]

Come work with me and the brilliant team at @debtjustice. Deadline for applications for our senior campaigner role is Monday! More info here: https://t.co/nnz4Yb3U6H

[Jerome Phelps @JeromeGPhelps]

Looking forward to speaking at this solidarity rally for #SriLanka on Sunday, come along if you can make it

[DebtJustice.bsky.social @debtjustice]

Join us this Sunday in solidarity with the people of #SriLanka facing decades of debt repayments & austerity at the hands of the IMF and private creditors - 12pm at the SL High Commission, Hyde Park Gardens

[DebtJustice.bsky.social @debtjustice]

It's the last day of the #NewFinancingPact summit in Paris. World leaders promised 'concrete solutions'. Activists are demanding they #CancelTheDebt for #ClimateJustice. RT to make sure they get the message!

[Jerome Phelps @JeromeGPhelps]

While world leaders talk new ways to lend at interest to countries in debt crisis, we're in Paris with @DebtforClimate demanding they #Cancelthe

[Tess Woolfenden @tess_woolfenden]

Amazing from @vanessa_vash at the #Paris Summit today 👏

"You must cancel the debt & grant climate finance to Global South countries so they are no longer forced to pay for a crisis they did not create."

#CancelTheDebt

[Jerome Phelps @JeromeGPhelps]

The role of the state is changing, it is in laying the red carpet for investment and creditors. We need a culture shift based on the power of disruption - @Bhumika820 @eurodad policy forum

[Jerome Phelps @JeromeGPhelps]

Countries in debt are seeing their whole national climate policy frameworks dictated by the IMF - our @tess_woolfenden introducing @eurodad policy forum discussions on how we strategise to win #debt #climate justice

[Eric LeCompte @Eric_LeCompte]

From across New York State, more people are arriving in Albany this week to push passage of the New York Taxpayer and International Debt Crises Protection Act. Constituents inundated the New York legislature with thousands of emails and calls to A2970/S4747 this session.

[Keith Mullin @KMCapMkts]

#Deep #debt #distress in the world’s poorest nations is having or likely to have not just economic and social impacts but #humanitarian consequences. G20, Paris Club, IMF et al need to act quickly and decisively. NOT for debt suspe…https://t.co/8SLfdJ2ECQ https://t.co/oVwZD4jK8S

[DebtJustice.bsky.social @debtjustice]

Catholic bishops in Africa call for cancellation of unpayable #debt. Private lenders are owed the most so must take part https://t.co/ctKeZriuoj

[tim-jones6.bsky.social @tim_jones6]

Another issue with the Suriname bond restructuring is that the bonds, even including three years of default, are still on worse terms than China's original lending.

So for China to give comparable treatment to bondholders requires it to do nothing🧵

#CancelTheDebt

[Jerome Phelps @JeromeGPhelps]

Our @tess_woolfenden in the @GECoalition blog, on why you won't solve the climate crisis by piling more loans on countries in debt crisis

[Green Economy @GECoalition]

As G7 finance ministers meet in Japan, our friends at Debt Justice outline why the global north must end climate usury ⚖️

https://t.co/f67rs1EIMM

[DebtJustice.bsky.social @debtjustice]

How the IMF has pushed #Zambia and lower income countries into debt misery, and why they keep going back - @gchelwa talks us through the geopolitics of the cycle of debt https://t.co/ClQ1Q7XxuZ