All the articles
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India: from loans to credit since 4000 years and the existence banks for 2500 years
24 February 2021 - by Eric Toussaint, Sushovan Dhar
The first credit in India dates back 4000 years. The existence of loans is proved to exist during the Vedic period, which is between 2000 and 1400 BC. The existence of banks in India dates back to 500 BC. A treatise on the art of politics of (...) -
Version 2.0: A new debt trap from the South to the North
The external debt of Developing Countries: a Timebomb
22 February 2021 - by Eric Toussaint, Milan Rivié
In the first part, we saw that the external indebtedness of developing countries (DC) went through two stages from 2000 to 2019. From 2000 to 2007-2008, the debt stagnated or increased moderately in parallel to negative net transfers. From 2008 (...) -
The Paris Commune of 1871, banks and debt
19 February 2021 - by Eric Toussaint
On the occasion of the 150th anniversary of the extraordinary experience of the Paris Commune, it is fundamental to draw a number of lessons from it. The measures a government takes regarding its Central Bank, the debts of working class people, (...) -
International appeal for the immediate release of all political prisoners in Russia
17 February 2021 - by CADTM, Eric Toussaint, Collective, Tariq Ali, Dianne Feeley , Miguel Urbán Crespo, Gilbert Achcar, Fatima Zahra El Beghiti, Myriam Bregman, Noam Chomsky, Fernanda Melchionna, Suzi Weissman
This urgent appeal was written in collaboration with activists and intellectuals living in Russia. At the end of January 2021, a wave of mass protests swept through all of Russia’s major cities. The occasion for these protests was the arrest of (...) -
Russia: Origin and consequences of the debt repudiation of February 10, 1918
15 February 2021 - by Eric Toussaint
In February 1918, the repudiation of the debt by the Soviet government shocked international finance and sparked off unanimous condemnation by the governments of the great powers. This decision of repudiation was intrinsic to this first big (...) -
Neoliberal Authoritarianism in Egypt
11 February 2021 - by Yanis Iqbal
The whiplash of authoritarianism is being ruthlessly used in Egypt. On January 6, 2021, Ahmed Khalifa, social news editor of Egypt 360 after publishing a series of reports on workers’ legitimate protests. He was falsely charged with joining a (...) -
Ecuador: Historic urban vote against large scale mining in referendum
8 February 2021 - by Miriam Lang
Ecuador’s third largest city Cuenca, of more than 600.000 inhabitants, has voted clearly against large-scale mining on February 7th, 2021. According to estimates published on Sunday night, 80% of voters have expressed themselves for water and (...) -
Stand with Africans to Cancel the debt!
5 February 2021 - by CADTM Africa , Womin
Debt cannot be repaid, first because if we don’t repay, lenders will not die. That is for sure. But if we repay, we are going to die. That is also for sure. Thomas Sankara, 1987 African movements unify to campaign for the cancellation of (...) -
Development or Underdevelopment?
4 February 2021 - by Amali Wedagedara
The Sri Lankan economy revealed a principal contradiction during the last two weeks. The Colombo Stock Market was becoming one of the best performing stock markets in the world. In parallel, the real Sri Lankan economy is collapsing. A suicide (...) -
Homeownership, poverty, and legislative pitfalls in Romania
2 February 2021 - by Ioana Florea, Enikő Vincze
There is a myth about the Romanians being “natural” homeowners. It was propagated by the dominant right-wing anti-communist ideology after 1990, in an effort to legitimise the private property market as the only housing solution and to (...) -
South Africa: Vaccine Apartheid or Equality?
30 January 2021 - by Rehad Desai, South African Federation of Trade Unions
We are in the middle of a global shortage of supplies of COVID-19 vaccines. We are reliving the saga that happened early in the pandemic around access to personal protective equipment (PPE), where each country fought for its own patch. Getting (...) -
The G20’s wrong solutions and the need to suspend debt repayment
29 January 2021 - by Eric Toussaint
Last April, the G20 launched the idea of debt service suspension by poor countries until the end of 2020. What actually happened? Measures taken by the G20 regarding debt relief are utterly insufficient as well as unacceptable since they (...) -
Kenyan activists raise questions about debt...
29 January 2021 - by Kenya Debt Abolition Network
Report of Kenyan Debt Zoom Dialogue Held on 13 January 2021 at 2PM to 4PM 1.0 - INTRODUCTION/BACKGROUND On 13 January 2021 the Kenya Debt Abolition Network (KDAN) which is a social movement of Kenyan individual and organization whose (...) -
The lessons of the Indian farmers’ struggle
28 January 2021 - by Sushovan Dhar
The Farmers struggle and its partial advance has shown us the way. Strong movements from below can have the potential to take on the Hinduvta juggernaut much more than stitching electoral alliances. What will be the fate of this movement six (...) -
“Too late to be pessimistic! Ecosocialism or collapse”
27 January 2021 - by Daniel Tanuro, Mats Lucia Bayer
We interview Daniel Tanuro, author of the book “Trop tard pour être pessimistes! Écosocialisme ou effondrement”, published this year by Éditions Textuel. As an ecosocialist activist and member of the Anticapitalist Left, Daniel Tanuro is one of the (...) -
Dam debt: Understanding the dynamics of Suriname’s debt crisis
22 January 2021 - by Eurodad, Daniel Munevar
In November 2020, Suriname joined ranks with Zambia, becoming the second country to default on its sovereign debt in the aftermath of Covid-19. In this briefing, we explore the origins of Suriname’s debt crisis and highlights the substantial (...) -
Version 2.0: The North’s New Debt Trap for the South
Evolution of the external debt of developing countries between 2000 and 2019
19 January 2021 - by Eric Toussaint, Milan Rivié
An update of the three part series “A new trap of indebtedness of the South to the North” published in September-October 2020. At the end of the 1990s and the early years of the new millennium, developing countries (DC) were emerging from an (...) -
What are the challenges of World Social Forum 2021 in relation to the global situation?
18 January 2021 - by Gustave Massiah
Introduction of the January 7, 2021 session organized by CRID and ATTAC for the preparation of the January 2021 WSF. The challenges of the World Social Forum 2021 are high. In a deep contradictory world situation, it must make it possible to: (...) -
In memory of Patrice Lumumba, assassinated on 17 January 1961
17 January 2021 - by Eric Toussaint
On 17 January 2021, we commemorate the 60th anniversary of the assassination of Patrice Lumumba (1925-1961). After a resounding victory in the first real elections in which the Congolese participated, Patrice Lumumba became Prime Minister of (...) -
“Exceptional circumstances can help indebted States”
14 January 2021 - by Eric Toussaint
A judgment by the Court of Justice of the European Union states that a State is entitled to impose losses on its creditors. This is a most significant decision. Several States facing a radical change of circumstances because of the impact of (...)
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