South
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COVID-19 and debt in the global south: Protecting the most vulnerable in times of crisis II
2 April 2020 - by Daniel Munevar
This is the second part of a blog series covering the impact of COVID-19 on vulnerable countries in the Global South. [Part 1] analyses the impact of debt burdens on health services. Part 2 discusses how the economic crisis will affect countires in the global south. Part 3 highlights the degree (...) -
Coronavirus Pandemic in the Shadow of Capitalist Exploitation and Imperialist Domination of People and Nature
31 March 2020 - by Siyada
The Coronavirus pandemic is threatening to truly become a humanitarian disaster at a global scale. It coincides with and exacerbates a multifaceted global crisis: political, economic, social, environmental and climatic. In other words, we are currently experiencing a crisis of a patriarchal, (...) -
Will Ecuador once again set an example of courage in the face of creditors?
24 March 2020 - by CADTM International
Will Ecuador once again set an example of courage in the face of creditors? On March 23, 2020, the National Assembly adopted by a majority vote a resolution calling for all State resources to be mobilized to combat the coronavirus pandemic. Consequently, the National Assembly calls on the (...) -
COVID-19 and debt in the global south: Protecting the most vulnerable in times of crisis I
18 March 2020 - by Daniel Munevar
This is the first part of a blog series covering the impact of COVID-19 on vulnerable countries in the global south. Part 1 analyses the impact of debt burdens on health services. Part 2 discusses the channels different channels of economic transmission of the crisis. Part 3 highlights the (...) -
Mozambique : Credit Suisse is liable for the $2 bn secret debt
17 March 2020 - by Joseph Hanlon
Strenuous efforts by donors and lenders over four decades turned Mozambique from a socialist success story into a neoliberal capitalist one. The private sector dominates; a domestic elite dependent on foreign companies has been created. But a secret $2.2 billion arms and fishing boat deal (...) -
Subimperial BRICS enter the Bolsonaro-Putin-Modi-Xi-Ramaphosa Era
13 March 2020 - by Patrick Bond
Summary The concept of subimperialism has been explained by Ruy Mauro Marini and David Harvey using characteristics ranging across class structure, geopolitics and the displacement of overaccumulated capital, to which we add a vital component: select middle-income countries’ contributions to (...) -
Chilean football, between repression and rebellion
10 March 2020 - by Jérôme Duval
Again, the history of football is closely linked to Chilean politics. Let’s go back in time. A few days after the September 11, 1973 coup d’etat against Salvador Allende, the Soviet Union refused to play against Chile in the Estadio nacional de Santiago, transformed into a detention center where (...) -
Lebanon is a severe case of subordinate financialization that must avoid the IMF
9 March 2020 - by Costas Lapavitsas, Jude Kadri
Costas Lapavitsas is an economist from Greece. He presently teaches Economics at the University of London and was elected as a member of the Greek Parliament for SYRIZA in January 2015. He left to form Popular Unity in August 2015, when SYRIZA signed a new bail-out with the EU and the IMF. His (...) -
In Sri Lanka, Resistance to Private Indebtedness Is a Strategic Issue
3 March 2020 - by Nathan Legrand
In Sri Lanka, the issue of private indebtedness — in particular in the form of microcredit — is a major problem that negatively affects borrowers and their families, but also society as a whole. The influence of microfinance in Sri Lanka is such that there is little doubt that a strong movement (...) -
Debt in Times of Economic Crisis
2 March 2020 - by Ahilan Kadirgamar
Debt relief is now a call at all levels of state and society in Sri Lanka. The Prime Minister recently requested a three-year moratorium on debt repayments to India, the Government earlier announced a debt repayment moratorium of one year for Small and Medium Enterprises (SME) with loans up to (...) -
MONLAR: Micro credit sharks drove 200 poor borrowers to suicide during last three years
2 March 2020 - by Rathindra Kuruwita
About 200 people had committed suicide, during the last three years or so, as they were unable to pay back the micro-credit loans and many of those organisations had obtained the services of village thugs to recover money Chinthaka Rajapakshe, Convener of the Movement for Land and Agricultural (...) -
IMF: Inhuman at the micro and macro levels
27 February 2020 - by Eric Toussaint
Hiruni, a fisherman’s wife, who has to manage her household (of five people) with an income of about 2.5 euros (= 500 Sri Lankan rupees) per day, is heavily indebted. In order to increase her household income, she borrowed 50,000 rupees (250 euros) from the LOLC bank, which specialises in (...) -
Colombo declaration on illegitimate debt
27 February 2020 - by CADTM
We, the participants of the 8th CADTM South Asia meeting from Bangladesh, India, Pakistan, Sri Lanka, as well as from Morocco, Belgium and France assembled at Colombo, Sri Lanka from 18-19 February 2020 resolve to fight against illegitimate debt which is a mechanism to transfer wealth created (...) -
Out of service: How public services and human rights are being threatened by the growing debt crisis
25 February 2020 - by Iolanda Fresnillo, Eurodad
Public services play a critical role in advancing human rights and fighting inequality. However, growing levels of external public debt, especially in the global south, threaten the very services on which citizens depend in order to have even a basic standard of living. External debt levels (...) -
Can the IMF Be Trusted on Argentina?
21 February 2020 - by Eric Toussaint
After the IMF mission to Argentina agreed with President Fernandez that the foreign debt is unsustainable, international debt campaigner Eric Toussaint tells teleSUR that the Fund is not to be trusted. -
The Microcredit Scam
20 February 2020 - by Nathan Legrand
The following text is a slightly adapted version from a presentation given at the 8th CADTM South Asia workshop (Colombo, Sri Lanka, 18-19 February 2020). Microcredit: A Success Story? In its modern form, microcredit has supposedly been invented in the South Asian region (Bangladesh) by (...) -
Somalia should reject IMF & World Bank Debt Relief
17 February 2020 - by David Calleb Otieno
Last week, the World Bank and the International Monetary Fund (IMF) announced that the two institutions were moving closer to offering Somalia a debt relief of USD 5.3 billion translating to about KES530 billion under the Enhanced Heavily Indebted Poor Countries (HIPC) initiative which is an (...) -
Unitedly we fight against debt and all other oppressions!
2 February 2020 - by CADTM Asia
A region that was the poster boy of neo-liberal growth and for its emerging middle class is back in news for wrong reasons. The 2018 Global Multidimensional Poverty Index (MPI) by UNDP and the Oxford Poverty and Human Development Initiative (OPHI) reveals higher incidences of poverty in the (...) -
Why They Killed Patrice Lumumba
24 January 2020 - by Saíd Husaini, Georges Nzongola-Ntalaja
Patrice Lumumba was a radical leader of the Congolese independence movement who resisted Belgian colonialism and corporate interests. That’s why he was assassinated in a US-backed coup 59 years ago today. Born in 1925, Patrice Émery Lumumba was a radical anticolonial leader who became the first (...) -
Brazil: from Lula to Bolsonaro
14 January 2020 - by Eric Toussaint
After experiencing a whole year with a far-right president as head of state in Brazil, namely Jair Bolsonaro, we have to try and understand the steps that led to this situation. I arrived in Sao Paulo, the financial and economic capital of Brazil, on the night of 14 November 2019. The city (...) -
Haiti 10 years after the earthquake: the fight for social and economic justice continues
13 January 2020 - by Iolanda Fresnillo
On January 12 2010 an earthquake of magnitude 7.3 on the Richter scale ripped through Port-au-Prince metropolitan area and other parts of Haiti. More than 1.5 million people, representing 15 per cent of the country’s population, were directly affected by the earthquake. According to the (...) -
“Any Third World government which takes the decision to carry on refunding the external debt is opting for the road to ruin”
13 January 2020 - by Eric Toussaint, Luiz Inácio Lula da Silva
“Any Third World government which takes the decision to carry on refunding the external debt is opting for the road to ruin.” These were the words in 1991 of Luis Inacio “Lula” da Silva, at that time, president of the Brazilian PT, (Partido dos Trabalhadores – Workers’ party). Interview by Eric (...) -
Evo Morales: An Indian out of place
2 January 2020 - by Boaventura de Sousa Santos
The dramatic events in Bolivia in recent months have followed an imperial script that Latin Americans are becoming more and more familiar with, and which consists in paving the way for the replacing of a democratic government deemed hostile to the interests of the United States (or rather, of (...) -
Morocco: Immediate freedom for Omar Radi (Activist & Journalist)
30 December 2019 - by ATTAC/CADTM Maroc
Immediate freedom for Omar Radi (Activist & Journalist) No to the repression of free voices and forms of expression that reject injustice and demand democracy. Solidarity with all political prisoners and popular struggles. The Moroccan state increasingly restricts freedoms and harasses (...) -
After the Argentina debacle, the IMF endorses weakening capital controls in Ecuador
20 December 2019 - by Lara Merling
The IMF is backing a tax reform bill in Ecuador that will enable capital flight and further austerity. Over the past year, a rebranded IMF returned to Latin America with promises of loan agreements that would be different than the dreaded “structural adjustment programmes” of the past. Behind (...)
CADTM
COMMITTEE FOR THE ABOLITION OF ILLEGITIMATE DEBT
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