Committee for the Abolition of Illegitimate Debt

This book by Eric Toussaint and Damien Millet discusses the question of international debt thoroughly. The authors argue that debt-cancellation is necessary but not sufficient, and must be accompanied by other measures such as the recovery of “ill-gotten gains” and their restitution to the dispossessed people. The debt is also a subtle mechanism of domination and a new method of colonization, hindering any sustainable human development in the South. The policies adopted by the indebted governments are more often decided by the creditors than by the people of the countries concerned and ask who owes what to whom.

They also suggest alternative sources of finance, both local and international.

The authors:

 Damien Millet teaches mathematics. He’s the General secretary of CADTM France, a member of Attac and collaborates on the magazine ’Alternative’ (Niger).

 Eric Toussaint is a historian and political scientist, President of the CADTM, member of the International Council of the World Social Forum and of the Scientific Advisory Board of Attac France, author of “Your Money or Your Life! The Tyranny of Global Finance” (1999), co-author of “Le bateau ivre de la mondialisation. Escales au sein du village planétaire” (2000), of “Afrique : abolir la dette pour libérer le développement” (2001).

This edition was published by Vikas Adhyayan Kendra VAK), Mumbai, India, 2009.

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