Comité pour l'abolition des dettes illégitimes

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International Institutions

Green shoots amidst debt chaos

4 December 2007 - by Eric Toussaint

December 2007 As regards North/South relations, we are at present in a situation which is exactly the opposite of the financial crises of the past 25 years. The credit bubble has begun to deflate and is moving towards the developing countries (...)
An international economic situation dominated by the bursting of the North’s private debt and housing bubbles

22 November 2007 - by Eric Toussaint

The crisis that swept through the US in August 2007 is not over yet and the international repercussions will be deep and lasting. When the housing bubble burst in August 2007, it shook financial markets worldwide. This housing crisis is closely (...)
INDEPENDENT PEOPLES TRIBUNAL ON THE WORLD BANK

World Bank officials shy away from participation ’TRIBUNAL FINDS UNDUE INFLUENCE OF BANK ON INDIA’S NATIONAL POLICIES’

http://www.worldbanktribunal.org PRESS RELEASE 24 September 2007, New Delhi New Delhi: The four day Independent Peoples Tribunal (IPT) on the World Bank in India concluded here today hearing numerous depositions indicting the Bank’s policy and (...)
Understanding and taming the beast

23 September 2007 - by Sony Kapoor

Table of contents What is the IFS and why is it important? What are some of the key characteristics? What are the main problems? Why do these occur? What are the possible solutions? What can Ecuador (...)
International Illegitimate Debt Campaign Bulletin

Issue 3, August 2007 About this bulletin This is a publication that comes out every two months to summarise recent and forthcoming actions in the International Campaign on Illegitimate Debt carried out by activists across the world. It aims (...)
Three latin american nations announce plans to withdraw from World Bank arbitration body

4 May 2007 - by IPS / Food and Water Watch

New Report Exposes How the World Bank Investment Court Undermines Democracy Washington, DC - On April 29, the leaders of Bolivia, Venezuela, and Nicaragua agreed to withdraw from the World Bank’s international arbitration court, which rules on (...)
Venezuela to quit IMF, World Bank

4 May 2007 - by Saul Hudson

CARACAS (Reuters) - Venezuela will withdraw from the Washington-based lending organizations, the IMF and World Bank, in a symbolic move that distances leftist President Hugo Chavez from much of the international economic community. Chavez, who (...)
Eric Toussaint interviewed by Renaud Vivien

Why the book “The World Bank: a never-ending coup d’état”?

Q. Tell us briefly about your book “The World Bank: a never-ending coup d’état”. A. This book is the only one currently available that analyzes how the World Bank has developed from its creation to 2006, and that goes beyond the facts to decode (...)
Kyrgyzstan

Kyrgyz Protesters Target World Bank Debt Scheme

YOUTH GROUPS ARE STRONGLY AGAINST HIPC Representatives of some youth and human rights groups protested in front of the parliament building in Bishkek, capital city, on 23 January 2007 against joining to the HIPC initiative. They promised they (...)
G8 Inaction Betrays People with AIDS

21 November 2006 - by Kairos

In this report we first present the results of a KAIROS study on how countries with high HIV infection rates and low human development rankings are also burdened by heavy external debts and by restrictive conditions imposed by International (...)
CALL FOR THE BOYCOTT OF WORLD BANK - IMF ANNUAL MEETINGS

We the undersigned representatives from civil society organisations and social movements call for a boycott of the official programme at the World Bank and IMF 2006 annual meetings in Singapore. In order to stifle dissent and any possible (...)
Bank of the South, international context and alternatives

9 September 2006 - by Eric Toussaint

Today’s overriding trend, in existence for 25 to 30 years, has been the pursuit of a neoliberal and imperialistic capitalist offensive. Over the last few years, this trend has been expressed by the more and more frequent recourse to imperialistic (...)
Zambia: Debt Reduction Doesn’t Guarantee Debt Sustainability - World Bank

5 September 2006 - by Mwila Nkonge

DEBT reduction is insufficient for debt sustainability, the World Bank has noted. Article by Mwila Nkonge published in The Post (Lusaka).
Breaking away as the only way out

10 August 2006 - by Eric Toussaint

The World Bank’s ongoing coup d’état The list of governments in power as a result of military coups and supported by the World Bank is impressive. Among the best known examples are the Shah’s dictatorship in Iran after Prime Minister Mossadegh was (...)
International press

What the World Bank and Inter-American Development Bank Owe Haiti

5 August 2006 - by Dan Beeton

For several years Haiti, the poorest country in the Western Hemisphere, has been left out of the World Bank’s “Heavily Indebted Poor Country” (HIPC) debt relief initiative. At last, Haiti may soon see some of its IMF and World Bank debt (...)
The creation of the Bretton Woods institutions

25 July 2006 - by Eric Toussaint

62 years ago, the 22nd of July 1944, the United Nations Monetary and Financial Conference, better known as the Bretton Woods Conference, that had lasted for three weeks, reached a conclusion. It was attended by representatives from 44 countries. (...)
International press

A Well of Hypocrisy

21 July 2006 - by George Monbiot

One man uses gas and oil money to help the poor. The other uses it to buy guns. Guess who gets vilified...
International press

The rise of the relief and reconstruction complex

28 June 2006 - by Walden Bello

Massive infrastructure damage and great social dislocation have been common consequences of natural disasters and social disasters like wars. Up until a few years ago, the aims of relief and reconstruction efforts were fairly simple: immediate (...)
Call for global actions against International Financial Institutions

At the 2nd South-North International Consultation on Resistance and Alternatives to Debt Domination, representatives of movements and organizations from more than 50 countries agreed on four joint initiatives for the coming years. One of these (...)
Press Release

The CADTM appalled by World Bank’s empty promises on debt

Nine months after the much-trumpeted announcement in London by the G8 (eight most industrialised countries), the World Bank has only just revealed its mode of cancelling the debt owed to it by some 17 heavily indebted poor countries (HIPC). The (...)
The World Bank : oiling the wheels of corruption in Chad

5 December 2005 - by Eric Toussaint, Damien Millet

The World Bank’s bombast about good governance, corruption and reducing poverty is a farce. In reality, the World Bank is supporting an oil pipeline project that allows a notorious dictator to fill his pockets and thumb his nose at the world. (...)
More World Bank Loans Don’t Equal Less Poverty - Groups

26 July 2005 - by Emad Mekay

WASHINGTON, Jul 14 (IPS) - World Bank lending to developing countries rose last year by 2.2 billion dollars to 22.3 billion dollars on the back of renewed borrowing from middle-income countries, the Bank said Thursday. Most of the money that (...)
Indonesia: History of a bankruptcy orchestrated by IMF and the World Bank

10 July 2005 - by Eric Toussaint, Damien Millet

The present text is part of a book to be published by VAK in Mumbai. The present text was first published in French in Damien Millet - Eric Toussaint, Les Tsunamis de la dette, CADTM-Syllepse, Liège-Paris, 2005. Media coverage of the tsunami (...)
The Limits of Reform: the Wolfensohn Era at the World Bank

9 May 2005 - by Walden Bello, Shalmali Guttal

WITH all the hullabaloo generated by the designation of Paul Wolfowitz as his successor, outgoing World Bank President James Wolfensohn’s record in leading the Bank has so far escaped serious scrutiny. Wolfensohn’s was an ambitious (...)
World Bank critics denounce Civil Society Forum

22 April 2005 - by The 50 Years Is Enough Network

WASHINGTON, D.C. - Activist organizations that monitor the activities of the international financial institutions today released a statement signed by over 60 civil society groups from 25 countries denouncing a “civil society forum” organized by (...)