All the articles
-
‘New imperialism’ debate suffers from the omission of subimperialism:
The BRICS, global governance, accumulation, class struggle and resource extractivism
25 April 2018 - by Patrick Bond
An exceptionally interesting debate about how imperialism is now behaving. Two leading critics of imperialism – John Smith and David Harvey – have recently fought bitterly at the Review of African Political Economy website (http://roape.net) over how to interpret geographically-shifting processes of super-exploitation. The risk is that they (...) -
Sri Lanka: damning testimonies of microcredit abuse
25 April 2018 - by Eric Toussaint, Nathan Legrand
Contrary to what is often claimed, microcredits are not a way out of poverty; on the contrary they most often result in a greater deprivation and humiliation of their victims. On the Indian sub-continent 65 million people have taken on a microcredit, 90% are women. Worldwide, women count for 81% of microcredit users (112 million). After an (...) -
India: Thriving Usury in Tirunelveli
23 April 2018 - by S. Aadhirai
The recent self-immolation of a family in Tamil Nadu drew widespread attention to the issue of usury prevalent in the state. Following a hearing on the depositions of 60 borrower victims at a people’s tribunal in Tirunelveli district, an attempt has been made to examine the nature of the issue, profile the borrower victims, the perpetrators, (...) -
Global debt is fast approaching a quarter of quadrillion dollars
20 April 2018 - by Tigran Kalaydjian
Tigran Kalaydjian explains the booming debt crisis - and what it means for the global economy. In an era when calculations in the trillions are commonplace, a figure that hasn’t yet been heard regularly is “quadrillion,” but that may be about to change. As total global debt continues its inexorable and menacing rise, surpassing $233 trillion in (...) -
European Parliament sounds the alarm over developing world debt crisis
20 April 2018 - by Mark Perera
The number of poor countries facing major debt crises has doubled since 2013, and only 1 in 5 are now considered to be at low risk of crisis. With some countries in the midst of crisis and others on the brink, meeting the Sustainable Development Goals (SDGs) remains a pipe dream, writes Mark Perera. The debt burden of developing countries has (...) -
Cameroon: He testified against Bolloré: “Of course I’m worried”
20 April 2018 - by Véronique Groussard, Emmanuel Elong
Emmanuel Elong, the farmer who came from Cameroon specifically for the lawsuit filed by the Bolloré group against France 2, tells of the psychological pressure you are under when you confront a major group in Africa. Emmanuel Elong is an independent grower in Cameroon. His village lies within the Socapalm plantation in which the Bolloré group (...) -
Crony capitalism looms large on the Indian banking horizon
18 April 2018 - by Sushovan Dhar
The $1.77 billion Punjab National Bank (PNB) scam, possibly the biggest financial chicanery to have hit the Indian banking sector, is rocking the nation. Perpetrated by a diamond tycoon in collusion with bank officials, defrauding India’s second largest bank in such a manner seems astonishing. Especially after repeated claims by regulatory and (...) -
‘Sooner or later, there will be a new financial crisis’
18 April 2018 - by Eric Toussaint, Meera Srinivasan
Regulators, governments to blame, says Eric Toussaint of the Committee for the Abolition of Illegitimate Debt. The recent bubbles in the stock exchanges and financial markets foretell an imminent financial crisis that would likely be stronger and more dangerous than in the past, according to Eric Toussaint, historian, political scientist and (...) -
Colombo Declaration on Illegitimate Debts 7th CADTM South Asia Workshop
17 April 2018 - by CADTM
We, the participants of the 7th CADTM South Asia workshop from Bangladesh, Nepal, India, Pakistan, Sri Lanka, Japan as well as from Belgium and France gathered at Colombo, Sri Lanka from 6-8 April 2018 acknowledge and affirm that illegitimate debt is a mechanism used to transfer wealth created by toilers to the benefit of capitalists and other (...) -
South Asia: New creditors and new forms of debt peonage
17 April 2018 - by Nathan Legrand
The seventh CADTM South Asia regional workshop was successfully held in Colombo (Sri Lanka) from April 6 to April 8, 2018, with participants from Sri Lanka, but also from India, Pakistan, Bangladesh, Nepal, as well as from Japan, France and Belgium (for the CADTM International Secretariat). Around forty delegates, most of them being (...) -
Sri Lanka: IFI’s, External debt and Microcredit
16 April 2018 - by B. Skanthakumar
The seventh CADTM South Asia regional workshop was successfully held in Colombo (Sri Lanka) from April 6 to April 8, 2018, with participants coming from Sri Lanka, India, Pakistan, Bangladesh, Nepal, Japan, Belgium and France. Around forty delegates, most of them being representatives of social movements (peasants’ movements, feminism, trade (...) -
Understanding the crisis is too important to be left to specialists alone. This is why “Bankocracy” is so important
16 April 2018 - by Avishek Konar
The Great Recession, from the middle of 2007 onwards, has rocked the global economy. This has led to at least a couple of things. The legitimacy of neoliberalism in the west—qua ‘there is no other alternative’—has been shattered, and vast majority of people are now looking for other political alternatives which partly explains the rise of the (...) -
Is Pakistan falling into China’s debt trap?
16 April 2018 - by Abdul Khaliq
• Pakistan will have to payback $100 billion to China by 2024 of total investment of $18.5 billion, which China has invested on account of bank loans in 19 early harvest projects, under CPEC. • China has become the biggest lender to Pakistan after surpassing Japan. Pakistan owes $19 billion (1/5 of its total debt) to China. The CPEC loans will (...) -
Pro-poor or anti-poor? The World Bank and IMF’s approach to social protection
13 April 2018 - by Stephen Kidd
In recent years, the World Bank and IMF have played an influential role in shaping national social protection policies. Social protection comprises a significant share of World Bank loans, reaching almost 10 per cent of lending to low-income countries in 2017, while around 10 per cent of IMF loans include conditionality linked to social (...) -
The World Development Report produced by the World Bank almost completely ignores workers’ rights
12 April 2018 - by Peter Bakvis
The World Bank decided last year to devote the 2019 edition of its flagship annual policy review publication, the World Development Report, to the theme of the future of work. Preparation of the WDR 2019 encountered some delay after the ouster in late January of the report’s first director, the Bank’s chief economist Paul Romer. However, he was (...) -
As Japan’s workers are facing increasing economic difficulties, Student Debt is still a major concern in the country
11 April 2018 - by Tsutomu Teramoto
The seventh CADTM South Asia regional workshop was successfully held in Colombo (Sri Lanka) from April 6 to April 8, 2018, with participants coming from Sri Lanka, India, Pakistan, Bangladesh, Nepal, Japan, Belgium and France. Around forty delegates, most of them being representatives of social movements (peasants’ movements, feminism, trade (...) -
The Power of a Dollar
11 April 2018 - by Milford Bateman
Microcredit is nothing more than a socially validated way for financial elites to exploit the poor. hirty years ago the international development community was ecstatic. It had found the perfect market-affirming solution to poverty in developing countries: microcredit. The popularizer of this new strategy — which consisted of providing small (...) -
As World Bank signals end of extraction finance, CSOs call for end to its other fossil fuel funding
10 April 2018 - by Bretton Woods Project
World Bank Group (WBG) President Jim Yong Kim announced at December’s One Planet Summit in Paris that the Bank will cease project lending for ‘upstream’ oil and gas projects after 2019. SUMMARY WBG announced it will end finance for ‘upstream’ oil and gas projects after 2019 Pledge includes exception for gas projects in low-income countries (...) -
Series: Yanis Varoufakis’s Account of the Greek Crisis: a Self-Incrimination
The first capitulation of Tsipras and Varoufakis at the end of February 2015
9 April 2018 - by Eric Toussaint
“I signed the formal letter of request and, with revulsion in my stomach, had it sent to the creditors. It was a thing of darkness. And I had acknowledged it as mine.” [1] Varoufakis Disclaimer: This series of articles on Yanis Varoufakis’s book, Adults in The Room: My Battle With Europe’s Deep Establishment is a guide for left-leaning readers (...) -
Official development assistance at the antipodes of solidarity
6 April 2018 - by Jérôme Duval
On the 11th of April, 2017, at the end of its report , the OECD proudly announced an increase in official development assistance for the past year: “In 2016, net official development assistance ODA) of the member countries of the Development Assistance Committee (DAC) OECD reached a new high of USD 142.6 billion. This represents an increase of (...)
CADTM
COMMITTEE FOR THE ABOLITION OF ILLEGITIMATE DEBT
35 rue Fabry
4000 - Liège- Belgique
00324 226 62 85
info@cadtm.org
