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China to take over Zambian international Airport for debt repayment default; neocolonialism?
11 September 2018 - by Richard Krah
Signing a contract with China is like, ascribing to the boiling frog effect; a fable describing a frog being boiled alive slowly. If you drop a frog suddenly into boiling water, it will jump out, but if you put that same frog in a vessel of water and start heating the water gradually, it will (...) -
National Dialogue on Kenyan Debts Must be Preceded by Citizen’s Debt Audit
10 September 2018 - by David Calleb Otieno
The Kenyan Peasants League (KPL) in collaboration with the Kenyan Social Movements for Abolition of Illegitimate Debts welcome the announcement by National Super Alliance (NASA) leaders Raila Odinga and Kalonzo Musyoka calling for a national dialogue on Kenyan debts that is already (...) -
The politics of quantitative easing and the increasingly negative consequences they have on developing countries
20 August 2018 - by Myriam Vander Stichele
QE programs were implemented by the central banks to stimulate the Western economies after the financial crisis of 2008. Central banks bought bonds with newly created money that was earmarked for circulation among the banks and financial markets. The QE programs have culminated in, among other (...) -
A Brief History of the Relations between the World Bank, the IMF, the US Government and Nicaragua
14 August 2018 - by Eric Toussaint
Central America is considered by the US government as part of its own exclusive sphere of influence. The policies adopted by the World Bank in terms of granting loans to the countries of the region are directly influenced by the political choices of the US government. The case of Nicaragua and (...) -
Sri Lanka: Debt Trap and Mega Development
14 August 2018 - by Ahilan Kadirgamar
Sri Lanka’s foreign debt is again talk of the town. Is the country overly indebted to China? Are we borrowing too much from international capital markets? Or are we financing ourselves into trouble with multi-lateral agencies like the International Monetary Fund (IMF), World Bank (WB) and Asian (...) -
Nicaragua: The evolution of the regime of President Daniel Ortega since 2007
13 August 2018 - by Eric Toussaint
In order to win the presidential election of November 2006, Daniel Ortega succeeded in making his election acceptable to the ruling classes, and in particular to the COSEP (Superior Council for Private Enterprise), the leadership of the Roman Catholic Church, represented by Cardinal Obando y (...) -
Conflicts between Latin American Countries and Transnational Corporations
10 August 2018 - by Jorge Marchini, Josefina Morales, Gabriela Roffinelli
Political positions and laws on foreign investment have been polarized into two opposing perspectives. On the one hand, there is the assumption that foreign direct investment (FDI) is essential for the economies of peripheral countries to take a leap toward development, prompting FDI promotion (...) -
Nicaragua in Pain
7 August 2018 - by Claudio Katz
Writing about Nicaragua is as painful and sad as it is indispensable. Memories of the Sandinista Revolution are still alive for the generation that lived through it. To remain silent would be an affront to those who took part in that memorable insurrection against Somoza. Events of recent (...) -
Nicaragua: the story of the Daniel Ortega-Rosario Murillo regime
26 July 2018 - by Eric Toussaint
The violence against demonstrators protesting against brutal neoliberal policies is just one of the reasons why different social movements have condemned the Nicaraguan regime led by Daniel Ortega and the Vice-president Rosario Murillo. The left has many more reasons to denounce the policies of (...) -
Nowhere to run – The worst refugee crisis since the second world war
4 July 2018 - by Sushovan Dhar
Warsan Shire, a 24 year old Kenyan-born Somali poet, writer and educator based in London, in her debut book, Teaching My Mother How to Give Birth (2011) observes, “No one leaves home unless home is the mouth of a shark.” Three years back, the photographs of Aylan Kurdi sent us shock-waves. The (...) -
The mixed fortunes of Argentina’s 2005 and 2010 debt restructurings
28 June 2018 - by Eric Toussaint, Maud Bailly
In June 2018, Argentina signed a loan agreement with the IMF. We therefore republish a useful excerpt of an interview given by Eric Toussaint to Maud Bailly in 2014, which focuses on the process of the Argentine debt restructuring in the wake of the country’s suspension of debt payments between (...) -
The IMF is back in Argentina: “an economic and social crisis, even more serious than the present one, looms large on the horizon”
27 June 2018 - by Eric Toussaint, Sergio Ferrari
1. The vicious circle of illegitimate debt grapples the Argentine people once again 2. IMF’s $ 50 billion loan surpasses Greece’s previous record Sergio Ferrari from Berne, Switzerland interviewed Eric Toussaint, international debt specialist After more than a decade of Argentina’s official (...) -
“You dropping BRICS from above? We’re throwing bricks from below!”
26 June 2018 - by The BREAK the BRICS Coalition
The rapper Ewok captured the spirit of progressive social forces in South Africa with his condemnation of [BRICS] elite politics at a March 2013 protest outside the Durban International Convention Centre, South Africa: “You dropping BRICS from above? We’re throwing bricks from below!” For the (...) -
The method in the madness: Uganda’s budget 2018 is divorced from reality
19 June 2018 - by Mary Serumaga
The report of the Auditor General (AG) for 2016–2017 is another catalogue of systemic theft, embezzlement and wastage of public goods. In this, it is similar to audit reports going back at least two decades. It appears that incompetence as much as theft are responsible for the seeming inadequacy (...) -
Argentina: Macri’s Neoliberal Fantasies
13 June 2018 - by Claudio Katz
In the middle of his term, Argentinian president Mauricio Macri cannot hide the monumental abyss between his promises and reality. The promise was of an influx of dollars to lower inflation, with high growth, job creation, an entrepreneurial boom and eradication of social assistance. A drastic (...) -
BRICS in Africa: “You are either at the table or on the menu”
5 June 2018 - by Patrick Bond
At a Johannesburg BRICS think tank, scholars get drunk on their own rhetoric South African academics and think tanks met on 28-31 May 2018 for deliberations leading to the July 2018 BRICS heads of state summit to be hosted by South Africa. Most of these scholars believe that the BRICS (...) -
China vs the US: The new imperial scramble for Africa and global rivalries
4 June 2018 - by Lee Wengraf
Lee Wengraf writes that the rush for profits, economic volatility and militarization across Africa promises only instability, rising exploitation and violence. Since the start of the new millennium, sub-Saharan African economies have undergone a dramatic boom. This surge has been marked by (...) -
China-Africa relations without Africans’ contributions
28 May 2018 - by Daouda Cissé
The piece relates that, at times, Africans are not invited to debates, conferences and other key platforms on Africa-China relations even though the topic is about Africa’s and Africans’ relations with China and Chinese. Recent discussions and exchanges among members of a research network on (...) -
Semira Adamu 1998: They killed a woman, not her fight
21 May 2018 - by Coordination Semira Adamu 2018
On September 22, 1998, during a sixth attempt to eviction, Semira Adamu was killed, suffocated with a cushion by gendarmes who acted in accordance with state-imposed expulsion techniques. A rejected asylum seeker, Semira was twenty years old. From the 127bis detention centre where she was (...) -
IMF conditionality: still undermining healthcare & social protection?
15 May 2018 - by Jesse Griffiths, Gino Brunswijck
The IMF tried last year to counter long-running accusations that its lending and advice programmes damage health outcomes in developing countries, but the independent evidence points in the opposite direction. The question is whether the IMF will use this year’s reviews of its conditionality and (...) -
Imperialism and Dependency: Similarities and Differences with the Marini era
8 May 2018 - by Claudio Katz, Richard Fidler
The main theorist of dependency anticipated trends of neoliberal globalization. He analyzed productive globalization, the centrality of exploitation and the relative weight of surplus value transfers. But the employment crisis exceeds what was envisaged by Marini, in a scenario disrupted by the (...) -
Éric Toussaint: “There is a disposition in the world’s masses for radical left proposals”
7 May 2018 - by Eric Toussaint
On 16 April 2018, Éric Toussaint was invited to speak about the role of the central banks and the banking sector at a seminar organised by Sampreeti – Sanskriti, a cultural association linked to the All India Reserve Bank Employees Association (AIRBEA, the main trade union of the Indian central (...) -
UNCTAD: Debt warning lights flash for poorest countries, experts say
7 May 2018 - by UNCTAD
Top economists from UNCTAD and the International Monetary Fund agree it’s time to sound the alarm on rising public debt in many low-income countries but disagree on how loudly the bell should be rung. Mounting public debt in some of the world’s poorest countries has leading economists worried. (...) -
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 (...) -
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 (...)
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