South

The South Korean miracle is exposed

1 July 2019 - by Eric Toussaint

In 2019, the World Bank (WB) and the IMF will be 75 years old. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few allied major powers who work to generalize policies that run counter the interests of the world’s populations. The WB and (...)
Corporate debt: the catalyst for the next crisis in India?

30 June 2019 - by Sushovan Dhar

According to IHS Markit, a London based information provider, India is going to overtake the UK, its former colonial ruler, to become the world’s fifth largest economy this year and is projected to outdo Japan to feature at the second position in the Asia-Pacific region by 2025. Modi’s (...)
Something’s got to give

14 June 2019 - by Amandla Editorial

The election of a new government should be a time of celebration. 25 years since the end of Apartheid should be the time of immense celebration. Yet, 25 years since the “dawn of democracy” and South Africans are engulfed by extreme forms of anger, disillusionment and alienation. 22 million adults (...)
The World Bank and the Philippines

22 May 2019 - by Eric Toussaint

In 2019, the World Bank (WB) and the IMF will be 75 years old. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few allied major powers who work to generalize policies that run counter the interests of the world’s populations. The WB and (...)
Challenges Posed by Recent Shifts in the Composition of Chinese debt

21 May 2019 - by Alice Jetin Duceux

As we have seen in the previous part of this study, despite the government’s spectacular stimulus plan, growth has been continually slowing over the past decade. Massive investment and growing corporate debt can no longer maintain a high rate of growth. Some party leaders have euphemistically (...)
South Africa: Resistance and Research for Alternatives to Illegitimate Debt and for Ecosocialism

3 May 2019 - by Eric Toussaint

Report on the CADTM International mission to South Africa 31 March – 12 April 2019, part 2. First part available here Wednesday 3 April: Cape town and Cape of Good Hope: highly visible social and racial segregation The fourth day was spent seeing Cape Town and its region out to Cape of (...)
South Africa: the odious debts generated by coal-fired power-stations

2 May 2019 - by Eric Toussaint

In South Africa, public debt has recently been back in the news through a nationwide debate over the future of Eskom, the public electricity company. Major power cuts affected the country’s social and economic life in February 2019, drawing attention to this company. The poorest sector of the (...)
Kenya: caught between debt and political indifference

1 May 2019 - by Sushovan Dhar

I reached Kenya on my way back from South Africa on April 13, 2019. This visit was a follow up of the earlier initiatives including a training on debt audit held at Nairobi, Kenya from July 29-30, 2018 in collaboration with the Kenyan Social Movements for the Abolition of Illegitimate Debts. (...)
From the BRICS countries to the townships: racial and social segregation continues

22 April 2019 - by Eric Toussaint

Over 25 years ago now the people of South Africa won the struggle to end the Apartheid regime. [1] Nevertheless, even though it is now against the law, de facto racial segregation is still apparent. Moreover the capitalist assault on the majority of the population is blatant. The class (...)
Recent unrest reveals continuing revolutionary spirit in Haiti

16 April 2019 - by Abayomi Azikiwe

Mass demonstrations against imperialist hegemony have rocked the western hemisphere’s poorest nation of Haiti. During the month of February, hundreds of thousands of Haitians took to the streets to demonstrate in response to the horrific economic crisis sweeping the Caribbean nation. For ten (...)
Crisis deepens as global South debt payments increase by 85%

9 April 2019 - by Jubilee Debt Campaign

- External debt payments by developing country governments grew by 85%, as a proportion of government revenue, between 2010 and 2018 For the countries with the highest payments, in two-thirds public spending is falling The largest cuts were in Egypt, Cameroon, Angola and Mongolia, all of (...)
Structural violence and the struggle for state power in Rwanda

8 April 2019 - by Andy Storey

The 1994 Rwandan genocide occurred despite the existence of a peace and power sharing agreement (the Arusha Accords) to which all parties to the conflict had ostensibly subscribed. This paper addresses the failings of the Arusha peace and power sharing process and makes three core arguments. (...)
The US Supreme Court Judgment: A Challenge to World Bank’s unfettered immunity

31 March 2019 - by Sushovan Dhar

The verdict is finally out. On 27 February, in a historic 7-1 decision, the Supreme Court of the United States ruled that international organizations like the World Bank Group are not above immunity and can be sued in US courts. This was in response to a case (Budha Ismail Jam, et al., (...)
Mozambique needs urgent action on debt crisis following Cyclone Idai

22 March 2019 - by Jubilee Debt Campaign

Cyclone Idai has caused huge destruction and loss of life in Mozambique, Malawi and Zimbabwe. The true extent of the disaster is not yet known. Below are reactions from partner organisations of Jubilee Debt Campaign in Mozambique, followed by reaction from Jubilee Debt Campaign: Anabela Lemos (...)
What are the ways to get Zimbabwe out of the current situation?

11 March 2019 - by Japhet Moyo

Since independence, Zimbabwe’s economic prospects have become more and more like a washed out fabric: every wash, it loses a little more luster and, with the passage of time, threatens to be reduced to rags. After inheriting a healthy economy at its independence in 1980 - though profoundly (...)
Mozambique files case against Credit Suisse in the UK

1 March 2019 - by Jubilee Debt Campaign

Jubilee Debt Campaign has learnt that the government of Mozambique, represented by the Attorney General, has filed a case in the UK High Court against Credit Suisse International. Commenting on the case, Tim Jones, policy officer at Jubilee Debt Campaign said: “Credit Suisse must be held to (...)
Budgeting for black-out in South Africa

27 February 2019 - by Patrick Bond

Upon taking power in a palace coup a year ago, Cyril Ramaphosa’s African National Congress (ANC) government was supposedly going to sweep out the prolific corruption associated with the 2009-18 Jacob Zuma ANC regime. But although excruciatingly-slow progress is being made in evicting the most (...)
Nicaragua: Open letter to Daniel Ortega to demand the end of repression and freedom for political prisoners

16 February 2019 - by Collectif de militants/tes de la solidarité en Belgique avec le peuple du Nicaragua

Mr. President, We are activists, former volunteers and leaders of associations and non-governmental organizations, all from different political and philosophical backgrounds. The earthquake of December the 23rd 1972 was for many of us the beginning of a commitment to the Sandinista Front for (...)
Brumadinho – International Articulation of People Affected by Vale statement

30 January 2019 - by International Articulation of People Affected by Vale

We have received the news of another tragedy instigated by Vale mining company with profound indignation. This afternoon (January 25, 2019) two tailings dams located in the Corrego de Feijao community, in Brumadinho, metropolitan region of Belo Horizonte [state capital of Minas Gerais)have (...)
Emmanuel Macron, Pedro Sanchez, Angela Merkel and Theresa May Have No Right to Issue an Ultimatum to Venezuela

28 January 2019 - by Eric Toussaint, Joaldo Dominguez

On Saturday 26 January 2019, Emmanuel Macron, Pedro Sánchez, and Angela Merkel, followed by Theresa May, gave the government of Venezuela eight days within which to call elections. If the government of Venezuela does not comply with this order by then, Macron, Sánchez, Merkel and May have (...)
What we have learned from the US indictment on odious loans to Mozambique

23 January 2019 - by Tim Jones

Yesterday (3 jan 2019) three former employees of Credit Suisse were arrested in London over $2 billion of odious loans to three state owned companies in Mozambique, given in 2013. The loans were given to companies with no revenue, and were not agreed by the Mozambique parliament, making them (...)
Éric Toussaint talks about Nicaragua with Bill Fletcher on US radio

19 January 2019 - by Eric Toussaint, Bill Fletcher

On January, Friday the 18th, Éric Toussaint was interviewed by Bill Fletcher for WPFW FM, a progressive Washington based radio station, about the current situation in Nicaragua. You can listen to the interview below. Éric Toussaint made frequent visits to Nicaragua and the rest of Central (...)
Final statement of the first assembly of the North African Network for Food Sovereignty

7 January 2019 - by North African Network for Food Sovereignty

The first assembly of the North African Network for Food Sovereignty took place on 7-9 December 2018 in Agadir, Morocco. It gathered delegations from Egyptian, Tunisian, Algerian and Moroccan trade unions, cooperatives and associations that are active in the fields of food sovereignty, the (...)
Globalization from Christopher Columbus and Vasco da Gama until today

6 January 2019 - by Eric Toussaint

The beginning of Globalization goes back to the outcomes of the first voyage of Christopher Columbus that brought him, on October 1492, to the shore of an island in the Caribbean Sea. It was the starting point of a brutal and bloody intervention of European sea powers in the history of American (...)
Nicaragua: The other revolution betrayed

5 January 2019 - by Eric Toussaint, Nathan Legrand

The violent repression against demonstrators protesting brutal neoliberal policies, which resulted in more than 300 people being killed by regime forces since April 2018, is just one of the reasons why different leftist social movements have condemned the Nicaraguan regime led by President (...)

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