International law
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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 (...) -
A sovereign State can refuse the transfer of debts that were contracted in times of subjection
23 June 2022 - by Anaïs Carton
The CADTM has devoted a series of articles to the collective book Sovereign Debt Diplomacies. Rethinking Sovereign Debt from Colonial Empires to Hegemony, Edited by Pierre Pénet and Juan Flores Zendejas. We provide here a summary of Chapter 9 (...) -
Multinational Corporations and COVID-19: Intellectual property rights vs. human rights
11 September 2021 - by Peter Rossman
The multilateral trading system anchored by the WTO is not confined to cross-border trade in physical goods. It was also designed to protect corporate knowledge monopolies. Developing countries were told that strict adherence to the rules 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 (...) -
Complicity of International Financial Institutions in Violation of Human Rights in the Context of Economic Reforms
30 November 2020 - by Juan Pablo Bohoslavsky
This Article demonstrates that the introduction of austerity measures does not contribute to economic recovery, but instead has negative consequences in terms of economic growth, debt ratios, and equality, and routinely results in a series of (...) -
Series: 1944-2020, 76 years of interference from the World Bank and the IMF (Part 27)
The World Bank, the IMF and the respect of human rights
25 October 2020 - by Eric Toussaint
“When I came to the Bank, we were not allowed to mention the word ‘corruption’. It was called the “c” word. Well, maybe we need to mention the “r” word which is ‘rights’” James Wolfensohn, 1 March 2004 The question of “human rights” has never been a (...) -
We are not fools! Solidarity with Omar Radi! Freedom!
7 August 2020 - by Myriam Bourgy, ATTAC/CADTM Morocco, Pauline Imbach
Omar Radi investigative journalist and human rights activist has been the subject of a violent campaign of intimidation by the Moroccan authorities. Accused of undermining state security and espionage, since June 25, he has been summoned 9 times (...) -
“If Julian Assange is extradited, it’s the end of the rule of law in the West” Eva Joly (Interview)
14 April 2020 - by Jérôme Duval, Eva Joly
Last March, one of our journalists had the opportunity to speak with Eva Joly, a lawyer and former Member of Parliament, about the details of the Assange case, as she herself knows the main protagonist personally. The subjects of their exchange (...) -
Embargo and blockade during a pandemic : attacks on the integrity of peoples condemned by international law
2 April 2020 - by Fondation Frantz Fanon
Embargoes and blockades are today, more than yesterday, characteristic aggressions of states exercising them against the peoples subjected to them. In the circumstances, any reduction of peoples’ capacity to meet their basic needs, by preventing (...) -
Illegal projects: How World Bank Arbitrators Mugged Pakistan
9 December 2019 - by Jeffrey D. Sachs
Thanks to the World Bank’s flawed and corrupt investment arbitration process, the rich are making a fortune at the expense of poor countries. The latest shakedown is a $5.9 billion award against Pakistan’s government in favor of two global mining (...) -
The case of Chevron in the Ecuadorian Amazon:
The ruling of the Supreme Court of Canada closes the doors to end impunity
5 April 2019 - by Stop corporate impunity
The Global Campaign to Reclaim Peoples´ Sovereignty, Dismantle Corporate Power and End Impunity regrets the ruling of the Supreme Court of Canada regarding the case of Chevron in the Ecuadorian Amazon, and reaffirms the urgent need to establish (...) -
Break the Taboo on Odious Debts and their Repudiation
7 January 2019 - by Eric Toussaint
This English version of the interview originally published in French by the independent online journal Le Vent Se Lève (LVSL) has been fully revised and complemented by Eric Toussaint. The original French version is available here. Éric (...) -
United Nations: The long and winding road to a binding corporate treaty
26 December 2017 - by Dorothy Guerrero
Dorothy Guerrero was with social movements from around the world in Geneva in october to push the United Nations to adopt a binding treaty on corporations and human rights. The struggle to make transnational corporations (or TNCs) accountable (...) -
ISDS in numbers
15 December 2017 - by Cecilia Olivet, Luciana Ghiotto, Bettina Müller
Impacts of investment arbitration against Latin America and the Carribbean Latin American and Caribbean (LAC) countries are among the most affected by the investment arbitration system worldwide, representing 28.6% of all known investor-state (...) -
Binding treaty on transnational corporations and human rights: press conference and action at opening of the week of mobilization in Geneva
26 October 2017 - by Radio Mundo Real, Karin Nansen
Hundreds of social movements and organizations demanded on Monday in Geneva (Switzerland) that countries commit and make substantial advances in the process of UN negotiations towards a binding treaty on transnational corporations and human (...) -
The Doctrine of Odious Debt: from Alexander Sack to the CADTM
24 November 2016 - by Eric Toussaint
Alexander Nahum Sack (Moscow 1890 – New York 1955), a Russian lawyer who taught in Saint Petersburg then in Paris, is considered to be one of the founders of the doctrine of odious debt. The doctrine, based on a series of precedents in (...) -
What other countries can learn from Costa Rica’s debt repudiation
1 November 2016 - by Eric Toussaint
In January 1917, the government of Costa Rica, under President Alfredo González, was overthrown by his Secretary of the Army and Navy, Federico Tinoco, who called new elections and established a new constitution in June 1917. The Tinoco putsch (...) -
International trade: UN expert calls for abolition of Investor-State dispute settlement arbitrations
28 October 2015 - by Office of the Independent Expert on the promotion of a democratic and equitable international order
NEW YORK (26 October 2015) – “Trade must be made to work for human rights and development and not against them,” the United Nations Independent Expert on the promotion of a democratic and equitable international order, Alfred de Zayas, has said (...) -
Restructuring public debts : CADTM International has debt auditing at the core of its A & B Plans
25 September 2015 - by CADTM International
On 10 September 2015, The General Assembly of the United Nations adopted, by a substantial majority (136 votes in favour, 6 against and 41 abstentions), a resolution on the nine principles to be followed in public debt restructuring. A (...) -
Some Reflections on the UN Guiding Principles on Foreign Debt and Human Rights and the UN Basic Principles on Sovereign Debt Restructuring Processes
24 September 2015 - by Cephas Lumina
Speech pronounced in the Hellenic Parliament on 23rd September 2015 during a public session of the Debt Truth Committee Madam President, I have decided to depart slightly from my script because I was struck by what you said a short while ago (...) -
Debt and austerity measures imposed on Greece violate the human rights of the Greek people and international law
20 September 2015 - by CETIM
Written statement submitted by Centre Europe - Tiers Monde at the 30th session of the Council for Human Rights, A / HRC / 30 / NGO / 18, September 2, 2015. This statement was prepared in collaboration with the Committee for the Abolition of (...) -
Restructuring of sovereign debt: UN Expert stresses GA principles are binding
16 September 2015 - by Juan Pablo Bohoslavsky
NEW YORK (10 September 2015) – The Independent Expert on the effects of foreign debt and human rights, Juan Pablo Bohoslavsky, welcomed today the new resolution adopted by the United Nations General Assembly on the “Basic Principles on Sovereign (...) -
UN adopts landmark debt resolution on principles for sovereign debt restructuring
15 September 2015 - by Third World Network
The United Nations General Assembly adopted a resolution on principles to guide sovereign debt restructuring processes on the afternoon of 10 September. This landmark resolution was submitted to the General Assembly by South Africa (current (...) -
An Ethical Approach to Public Debts - The Need for a Global Discussion
3 July 2015 - by Thomas Reinert, Ricardo Farinha
This paper asks in how far public debts can be categorized and on which ethical grounds their legitimacy is to be assessed. It attempts to construct a line of reasoning that has the harm principle as the nexus between two broad ethical schools (...) -
In case of illegitimate debts creditors can be contravened
12 March 2015 - by Eric Toussaint, Kristina Bozic
Professor Eric Toussaint, an expert on debt auditing and on the cancellation of debt, talks about the present situation in Europe, why Greek debt cancellation is a legal necessity and why this would not be anything new. The founder of CADTM - (...)
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