Thread by @tim_jones6

New figures released today by @debtjustice show that African governments owe Western private lenders three times more debt than they owe China.

And interest rates on private loans are double those on Chinese loans.

#CancelTheDebt

reuters.com/world/africa/a…

All creditors needs to take part in debt cancellation. But Western governments and private lenders focus on China to deflect from their own responsibility.

12 of the 22 African countries with the highest debts are paying private lenders over 30% of their total external debt payments In contrast, debt payments to Chinese lenders are over 30% in just six of the 22 countries

Private debts are governed by English and New York law. This means the UK and US can pass legislation to make private lenders take part in debt cancellation (as the UK has done in the past).

The IMF and World Bank have also called on the UK and US to pass legislation.

See the full figures on who African governments debt is owed to here: debtjustice.org.uk/press-release/…