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The Independent UK
The Independent UK
World
Nick Ferris

How private investors are making billions from countries in debt

BlackRock Christian Aid Debt Justice Developing Countries Glencore Afreximbank JP Morgan United States World Bank Bonds
Olipa, Charity and their children walk home from the hospital along an unmaintained road in Malawi, which has one of the most expensive debt burdens of any country globally - (Joanna Milis/ChristianAid)

Countries in spiralling debt distress are set to deliver billions in profits to funds managed by asset managers including BlackRock, JP Morgan and other household names, new analysis from Christian Aid and Debt Justice shows.

The research, which has been shared exclusively with The Independent, shows that funds managed by BlackRock stand to make an estimated $2.1 billion profit from loans to countries in or at high risk of debt distress. Funds managed by Goldman Sachs are set to make $900 million, while those managed by JP Morgan are estimated to make $700 million. Funds managed by UBS and PIMCO are estimated to make around $500 million.

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