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Finance against people

May 1968 - March 2023!

27 March 2023 - by Yorgos Mitralias

At a time when those who declare, even among the French elites (!), that we are witnessing the emergence of a “new May 68” are multiplying, while noting that in the country now reigns .... “an insurrectional atmosphere”, one can now reasonably ask: (...)
Youth mobilize against Macron’s scorn

27 March 2023 - by Maxime Perriot

One week after the French government used article 49,3 of the Constitution to impose its reform of the retirement age thus short-circuiting the parliament, popular mobilization has intensified and seen an important increase in the number of (...)
Illicit Financial Flow

14 March 2023 - by High Level Panel on Illicit Financial Flows from Africa

Over the last 50 years, Africa is estimated to have lost in excess of $1 trillion in illicit financial flows (IFFs) (Kar and Cartwright-Smith 2010; Kar and Leblanc 2013). This sum is roughly equivalent to all of the official development (...)
Monetary tightening, inflation and bank failures

13 March 2023 - by Michael Roberts

Last week, US Fed Chair Jay Powell gave testimony to the US Congress on inflation and Fed monetary policy. He spooked financial markets when he appeared to say that the latest data on the economy would probably require further interest-rate (...)
Greece: The infamy of a predicted terrible rail disaster

6 March 2023 - by Yorgos Mitralias

The following could be a dark humor joke, but it is a very real story and, above all, emblematic of this neoliberal and dilapidated Greece of the first half of the 21st century. Only a few hours before the terrible rail disaster of 28 (...)
World Economic Forum plutocrats suffer vertigo on contemporary capitalism’s roller-coaster

17 January 2023 - by Patrick Bond

Part 1: The context of extreme financial devaluations The World Economic Forum is meeting in Davos this week. The gathering of many of the wealthiest corporate elites and state leaders compels consideration of directions global capitalist (...)
Richest 1% bag nearly twice as much wealth as the rest of the world put together over the past two years

17 January 2023 - by Oxfam

The super-rich outstrip their extraordinary grab of half of all new wealth in past decade. Billionaire fortunes are increasing by $2.7 billion a day even as at least 1.7 billion workers now live in countries where inflation is outpacing wages. (...)
When States Start with a “Clean Slate” and Repudiate Debts: Whose Turn Now?

12 December 2022 - by Eric Toussaint, Anaïs Carton

In this article, Anaïs Carton and Éric Toussaint demonstrate, using a number of examples, that there is no automatic continuity of obligations related to debt when one State or government succeeds another. In April 2023, the Vienna Convention (...)
Public debt and Microfinance in Morocco : When the poor Finance the rich

9 December 2022 - by Jawad Moustakbal

Jawad Moustakbal (ATTAC CADTM Morocco) was one of the CADTM delegates at the 9th CADTM South Asia meeting, in Colombo, Sri Lanka (2-4 December 2022). He presented the damage caused by microcredit and public debt in Morocco for decades. Jawad (...)
Powell’s pivot and the impending slump

8 December 2022 - by Michael Roberts

Stock markets rallied in November as inflation rates subsided a little and the US Federal Reserve began to talk of lower interest-rate hikes from hereon. Financial investors are hoping that the Fed is set to ‘pivot’ from tightening monetary (...)
Private Debt in India : Current trends in the context of COVID-19 Pandemic

8 December 2022 - by Chinmayi Naik

Chinmayi Naik (Working Peoples’ Coalition in India) was one of the CADTM delegates at the 9th CADTM South Asia meeting in Colombo, Sri Lanka (2nd - 4th december 2022) . She made a presentation about the state of private debt in the context of (...)
The “Debt for Climate” campaign interviews Eric Toussaint about the responsibility of private companies and international organisations, such as the IMF and WB, in climate change

5 October 2022 - by Eric Toussaint, Debt for climate

It is important to emphasise that a whole series of large capitalist companies in the North, from the beginning of the industrial revolution, developed an intensive exploitation of raw materials, developed a mode of production that emitted a (...)
International food crisis and proposals to overcome it

5 September 2022 - by Eric Toussaint, Omar Aziki

Contrary to a notion that spread in 2022, the global food crisis started before the Russian invasion of Ukraine and the rise in the cereal prices due to speculation. On a global scale, from 2014 to 2021, the number of people affected by serious (...)
Press Release

2022: Let us end the food crisis

5 September 2022 - by CADTM International

Many countries and their populations currently face a critical situation because of the rising prices of food or the impossibility of getting access to food in sufficient quantity. As the main cause is not the war in Ukraine, as repeated by (...)
Down the Jackson Hole

27 August 2022 - by Michael Roberts

Jay Powell, the chair of the US Federal Reserve, made a keynote speech at the annual summer symposium of central bankers in Jackson Hole. Powell reckoned that inflation was still too high and so the Fed’s tightening cycle was far from done. (...)
Why the Elites in the Global South Favour Indebtedness, How Creditors Have Eroded National Sovereignty, and How States are Beginning to Fight Back

22 August 2022 - by Eric Toussaint

The book Sovereign Debt Diplomacies: Rethinking Sovereign Debt from Colonial Empires to Hegemony merits reading. The work was published by Oxford University Press in 2021. Pierre Pénet and Juan Flores Zendejas, who served as editors, have (...)
About ’Rogue Capital’

8 July 2022 - by Jean Nanga

The CADTM publishes a commentary by Jean Nanga on the notion of rogue capital mentioned in the interesting study entitled “The financialisation of malaria in Africa: Burkina Faso” (April 2022), produced by Sasha Mentz-Lagrange and Stefanie (...)
The financialisation of malaria in Africa: Burkina Faso

9 June 2022 - by African Centre for Biodiversity (ACB)

The financialisation of malaria in Africa: Burkina Faso, rogue capital & GM /gene drive mosquitoes This paper seeks to understand the financialisation of malaria as a vehicle for rogue capital in a context of a weakened state (through (...)
Debt, Coups & Colonialism in Haiti: France & U.S. Urged to Pay Reparations for Destroying Nation

31 May 2022 - by Amy Goodman, Democracy Now!, Westenley Alcenat, Juan González, Gerald Horne, Kim Ives

We look in depth at “The Ransom,” a new series in The New York Times that details how France devastated Haiti’s economy by forcing Haiti to pay massive reparations for the loss of slave labor after enslaved Haitians rebelled, founding the world’s (...)
The challenges of the odious debt doctrine in Ukraine

3 April 2022 - by Mats Lucia Bayer

While the Russian invasion of Ukraine continues, the latter contains to languish in a deep debt trap. This has serious consequences for the Ukrainian working people, attacked continuously - socially, politically and economically. We reproduce (...)
The Meltzer Report

29 March 2022 - by Allan H. Meltzer

The succession of crises that swept over the so called emerging countries in the nineties and the ensuing disastrous IMF and World Bank interventions provoked a world wide debate concerning the future and the role of these Bretton Woods’ (...)
Government Mortgages Women on Behalf of the Microfinance Companies

8 March 2022 - by Collective of Women Affected by Microfinance

The statement was issued by the Collective of Women Affected by Microfinance, Sri Lanka to commemorate International Women’s Day. March 08, 2022 The government that came into power pledging to abolish all microfinance debt has failed to keep (...)
Debt, development and the future

6 March 2022 - by Amali Wedagedara

The Satyagraha initiated by the Collective of Women Affected by Microfinance on 8 March 2021 in Hingurakgoda, Polonnaruwa, narrates a particular story of development in Sri Lanka – a dystopic one where the development aspirations of women have (...)
Rosa Luxemburg and debt as an imperialist instrument

16 January 2022 - by Eric Toussaint

[103 years back, Rosa Luxemburg was shot dead and her body flung into Berlin’s Landwehr Canal. However, she could not be wiped out from history as her life and works are extremely relevant in our quest to find a better world. We reprint this (...)
Two centuries of sovereign debt conflicts

13 January 2022 - by Eric Toussaint

Sovereign Debt Diplomacies: Rethinking Sovereign Debt from Colonial Empires to Hegemony, published by Oxford University Press in 2021, honorably takes its place among the numerous publications on the question that have come out over the last two (...)