South
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Version 2.0: A new debt trap from the South to the North
The external debt of Developing Countries: a Timebomb
22 February 2021 - by Eric Toussaint, Milan Rivié
In the first part, we saw that the external indebtedness of developing countries (DC) went through two stages from 2000 to 2019. From 2000 to 2007-2008, the debt stagnated or increased moderately in parallel to negative net transfers. From 2008 (...) -
Neoliberal Authoritarianism in Egypt
11 February 2021 - by Yanis Iqbal
The whiplash of authoritarianism is being ruthlessly used in Egypt. On January 6, 2021, Ahmed Khalifa, social news editor of Egypt 360 after publishing a series of reports on workers’ legitimate protests. He was falsely charged with joining a (...) -
Ecuador: Historic urban vote against large scale mining in referendum
8 February 2021 - by Miriam Lang
Ecuador’s third largest city Cuenca, of more than 600.000 inhabitants, has voted clearly against large-scale mining on February 7th, 2021. According to estimates published on Sunday night, 80% of voters have expressed themselves for water and (...) -
Stand with Africans to Cancel the debt!
5 February 2021 - by CADTM Africa , Womin
Debt cannot be repaid, first because if we don’t repay, lenders will not die. That is for sure. But if we repay, we are going to die. That is also for sure. Thomas Sankara, 1987 African movements unify to campaign for the cancellation of (...) -
South Africa: Vaccine Apartheid or Equality?
30 January 2021 - by Rehad Desai, South African Federation of Trade Unions
We are in the middle of a global shortage of supplies of COVID-19 vaccines. We are reliving the saga that happened early in the pandemic around access to personal protective equipment (PPE), where each country fought for its own patch. Getting (...) -
Kenyan activists raise questions about debt...
29 January 2021 - by Kenya Debt Abolition Network
Report of Kenyan Debt Zoom Dialogue Held on 13 January 2021 at 2PM to 4PM 1.0 - INTRODUCTION/BACKGROUND On 13 January 2021 the Kenya Debt Abolition Network (KDAN) which is a social movement of Kenyan individual and organization whose (...) -
Dam debt: Understanding the dynamics of Suriname’s debt crisis
22 January 2021 - by Eurodad, Daniel Munevar
In November 2020, Suriname joined ranks with Zambia, becoming the second country to default on its sovereign debt in the aftermath of Covid-19. In this briefing, we explore the origins of Suriname’s debt crisis and highlights the substantial (...) -
Version 2.0: The North’s New Debt Trap for the South
Evolution of the external debt of developing countries between 2000 and 2019
19 January 2021 - by Eric Toussaint, Milan Rivié
An update of the three part series “A new trap of indebtedness of the South to the North” published in September-October 2020. At the end of the 1990s and the early years of the new millennium, developing countries (DC) were emerging from an (...) -
In memory of Patrice Lumumba, assassinated on 17 January 1961
17 January 2021 - by Eric Toussaint
On 17 January 2021, we commemorate the 60th anniversary of the assassination of Patrice Lumumba (1925-1961). After a resounding victory in the first real elections in which the Congolese participated, Patrice Lumumba became Prime Minister of (...) -
Western Imperialism and the Role of Sub-imperialism in the Global South
13 January 2021 - by Patrick Bond, Ana Garcia, Miguel Borba
AT FIRST BLUSH, JOE BIDEN’S ELECTION as U.S. president brings respite from a world threatened by Donald Trump’s climate-denialist, dictator-coddling, xenophobic, racist, misogynist, rules-breaking regime. On second thought, 2021 will also initiate (...) -
India: Long march to peasant unity
4 January 2021 - by Ranjini Basu
The unprecedented unity among peasant organisations is not a sudden development. It has been built over several struggles, which have expanded the base of the peasant and snowballed into the massive protests against the new farm laws. The (...) -
How pension funds shape financialisation in emerging economies in Colombia and Peru
17 December 2020 - by Bruno Bonizzi, Jennifer Churchill, Diego Guevara
In early spring 2020 emerging economies (EEs) were hit by the largest ever episode of portfolio outflows. Stock and bonds were sold as investors flight to safer investments in Europe and the United States, showing once again the fragile nature (...) -
Deep and comprehensive dependency: How a trade agreement with the EU could devastate the Tunisian economy
9 December 2020 - by Hamza Hamouchene, Layla Riahi
Tunisia has undergone radical changes in the past decade, and faces more in the years to come, if the EU has its way. As the first country to topple its dictator in early 2011, it set off a chain of revolutions across North Africa and West Asia (...) -
Strengthening Agro-business Capitalism and Weakening Federalism
4 December 2020 - by Pritam Singh
India is currently rocked by farmer’s protest. Tens of thousands of farmers have surrounded India’s capital, New Delhi, where they intend to camp out for weeks to protest against the contentious new agricultural laws that could destroy their (...) -
A new trap of indebtedness of the South to the North - Part 3
Developing Countries caught in the vice-like grip of indebtedness
1 December 2020 - by Eric Toussaint, Milan Rivié
We continue our analysis of the present-day factors that contribute to the unsustainable nature of debt repayments demanded of the countries of the Global South. We shall examine the following topics: the downward evolution of commodity prices; (...) -
A new trap of indebtedness of the South to the North - Part 2
Threats over the external debt of Developing Countries
27 November 2020 - by Eric Toussaint, Milan Rivié
In the first part, we saw that the external indebtedness of developing countries (DC) went through two stages from 2000 to 2018. From 2000 to 2007-2008, the debt stagnated or increased moderately in parallel to negative net transfers. From 2008 (...) -
Haemorrhaging Zambia: Prequel to the Current Debt Crisis
25 November 2020 - by Andrew M. Fischer
Following a stand-off with commercial creditors and protracted but unresolved negotiations with the IMF, Zambia defaulted on its external sovereign debt on 13 November this year. While most commentary has focused exclusively on the government’s (...) -
Sri Lanka: An argument for cancelling the household debt
23 November 2020 - by Amali Wedagedara
Women affected by microloans in Sri Lanka have been mobilising for debt cancellation since a couple of years. The complexity of the agricultural debt problem and the attractiveness of the idea of debt abolition made it a popular campaign slogan (...) -
G20: the debt solution
22 November 2020 - by Michael Roberts
This weekend, the G20 leaders’ summit takes place – not physically of course, but by video link. Proudly hosted by Saudi Arabia, that bastion of democracy and civil rights, the G20 leaders are focusing on the impact on the world economy from the (...) -
Urgent debt relief needed as Pakistan faces perfect debt trap
12 November 2020 - by Abdul Khaliq
The indicators of a severe debt crisis were already present in Pakistan long before the Covid-19 crisis hit. Coordinated efforts by CSOs all round the world are needed to ensure that countries like Pakistan are not left alone dealing with its (...) -
Illicit Financial Flows: Africa is the world’s main creditor
5 November 2020 - by Milan Rivié
In its latest report on Illicit Financial Flows (IFF) in Africa, UNCTAD (United Nations Conference on Trade and Development) discloses that 88.6 billion US$ from the continent go up in smoke every year. Not only must we ask questions about the (...) -
Tunisia : The Truth and Dignity Commission report available
4 November 2020 - by Avocats Sans Frontières (ASF)
On July 24th 2020, the Truth and Dignity Commission’s (IVD) final report has finally been published in a special issue of the Official Gazette of the Tunisian Republic. This report concludes the Commission’s work, which included the hearings of (...) -
Zambia edges towards debt default, but bondholders could make millions
3 November 2020 - by Tim Jones
Zambia will go into debt default on the 14th November if a resolution is not reached with their private creditors following a missed interest payment in October. The southern African country has requested a six-month extension on interest (...) -
A new trap of indebtedness of the South to the North - Part 1
Evolution of the external debt of Developing Countries between 2000 and 2018
26 October 2020 - by Eric Toussaint, Milan Rivié
At the end of the 1990s and in the early years of the new millennium, Developing Countries (DC) were emerging from an unprecedented debt crisis, the “lost decades of development”, which had started in 1982 with Mexico defaulting. Between 1980 and (...) -
Debt disaster with no escape
19 October 2020 - by Michael Roberts
The IMF-World Bank semi-annual meeting took place from 12th to 18th October 2020. Earlier the IMF kicked off the show with a warning that the poor countries of the world are heading for a catastrophe from the pandemic slump, leading to defaults (...)
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