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Debt campaign

Statement by academics on dealing with Sri Lankan debt

9 January 2023 - by Collective

Sri Lanka, along with many other low- and middle-income countries, has experienced a series of financial shocks due to both external and internal factors. Global forces have caused food and energy import costs to soar and interest rates to rise, (...)
Declaration / Statement

Why the CADTM disputes the “Swapping public debt for climate action" proposal

14 December 2022 - by CADTM

It is essential to have a responsible debate and to demystify the “Swapping public debt for climate action” proposal, which is not new and was actually very popular in the 1990s, when members of the Paris Club used debt swaps to promote the (...)
CADTM South Asia workshop

25 November 2022 - by CADTM

Committee for Abolition if Illegitimate Debt (CADTM) South Asia Law & Society Trust (LST, Sri Lanka) and the Movement for National Land and Agricultural Reform (MONLAR, Sri Lanka) COLOMBO, FRIDAY 02 – SATURDAY 03 DECEMBER 2022 The (...)
Activists Disrupt Meeting to Demand ’Loan Sharks’ IMF and World Bank Cancel All Debt

13 October 2022 - by Brett Wilkins

“We need localization and ecological sustainability for the people, planet, and peace,” said CodePink’s Nancy Mancias. “We are calling on the IMF and World Bank to end its debt trap monetary practices which are causing countries to sink further down (...)
Global Week of Action for Justice and Debt Cancellation

10 October 2022 - by Collective

We stand in solidarity with the millions of people in countless countries who have taken to the streets over recent months to demand an end to debt domination and the destructive policies of the International Monetary Fund (IMF), the World Bank (...)
Over 100 experts call on BlackRock to cancel Zambia’s debt

17 September 2022 - by Collective

Over 100 economists and development experts have called on BlackRock and other creditors to cancel a significant amount of Zambia’s debt. In an open letter released today, the signatories – including Jeffrey Sachs, Jayati Ghosh, Philip Alston, Raj (...)
After a decline in movements against illegitimate debt between 2016 and 2022, will there be a resurgence in 2023?

6 July 2022 - by Eric Toussaint

The decline in “debt” movements between 2016 and 2022 The period 2016-2022 has been marked by a retreat in anti-illegitimate debt movements on a global scale with a few important exceptions: Argentina since 2020, Puerto Rico in 2017-2019, Lebanon (...)
No Climate Justice without Debt Justice

25 October 2021 - by Collective

The climate emergency is fuelling the accumulation of debt in countries in the global south. Countries suffering from the worst impacts of climate change have contributed very little to it, yet they are facing more expensive borrowing costs (...)
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 (...)
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 (...)
For a united front against the payment of public and private illegitimate debts

4 November 2020 - by CADTM International

Since the beginning of the year 2020, the Covid-19 pandemic has tragically worsened the living conditions of the majority of the world’s population. Never really recovering from the subprime crisis in 2007-2008, the economic system is (...)
Open Letter to All Governments, International Institutions and Lenders

14 October 2020 - by CADTM International, Collective

COVID19 has turned our world upside down. The Covid19 pandemic has severely impacted on the health, safety and survival of hundreds of millions of people. Communities worldwide are being pushed deeper into poverty, precarious existence and (...)
Global Economic Solutions Now!

1 October 2020 - by CADTM International, Collective

The CADTM International network agrees to sign even though we are against calling upon the IMF, which amounts to giving it more power by increasing Special Drawing Rights (SDRs), and against creditor-led debt restructurings, because history has (...)
Immediate cancellation of South Asian debts!

8 June 2020 - by CADTM, Collective

The coronavirus has unveiled the spectre of a larger crisis. A majority of the planetary economies were already in the throes of over-production, stagnation and even, a recession, which deepened with the day, since the sub-prime crisis of (...)
Time For A Renewed Anti-Debt Movement

1 June 2020 - by Eric Toussaint, Beverly Keene, Lidy B. Nacpil, Dorothy Guerrero

The coronavirus and global lockdowns mark 2020 as the year in which we re-confront these same issues, only this time with even greater life-or-death urgency, as leaders in one country after another, responding primarily to their own immediate (...)
Nepal needs Total Debt Cancellation to face the Covid-19 Crisis

23 April 2020 - by Praman Adhikari

The devastation caused by the coronavirus pandemic is a serious threat which has brought our civilisation and economies at the brink of collapse. The current crisis in every sector of our lives has revealed how weak our system is when it comes (...)
Cancel the debt

23 April 2020 - by Mustafa Talpur

Last week, the G20 group of rich countries decided to postpone the debt payment that is due to be paid to G20 governments up to the end of 2020 for developing countries. This will help Pakistan free up some resources to tackle the pandemic. (...)
CSOs Call to International Creditors of Bangladesh

10 April 2020 - by Collective

We the following Civil Society Organizations (CSOs) from all over the world, are calling on the World Bank (WB), International Monetary Fund (IMF), Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB) and all bilateral, (...)
A debt jubilee to tackle the Covid-19 health and economic crisis

9 April 2020 - by Collective

The International CADTM network agrees to sign despite the fact that we are opposed to asking the IMF to “introduce clear guidelines for deciding when a debt becomes unsustainable, and to abide by its self-imposed rule that it will only lend to (...)
COVID-19 pandemic: Statement by the Southern African People’s Solidarity Network (SAPSN)

5 April 2020 - by Collective

The COVID-19 pandemic poses a great danger to the SADC region. If the spread of the virus is not urgently arrested and is allowed to spread to high-density areas, slums, refugee camps and other centres of impoverishment, Southern Africa will (...)
Emergency financing for Low-Income Economies to tackle COVID-19: Cost estimates for the impact of the crisis and emergency financing requirements

2 April 2020 - by Daniel Munevar

This briefing is provided to inform development of policy responses to the COVID-19 crisis and in support of calls from wider civil society for debt cancellations for the world’s poorest countries in the face of the current crisis. The COVID-19 (...)
Poor countries cut public spending, debt payments trebled

17 January 2020 - by Jubilee Debt Campaign

Figures calculated by Jubilee Debt Campaign from IMF and World Bank data show that growing debt burdens are contributing to public spending cuts. For the 15 countries spending over 18% of revenue on debt payments, 14 saw public spending cuts (...)
Debt Island: Wall Street Closes in on 40 Years of Profit at Puerto Rico’s Expense

30 January 2019 - by Abner Dennis, Kevin Connor

An important chapter in the story of the Puerto Rican debt crisis is comingto an end this month, as an adjustment plan around sales tax-backed, or COFINA, debt is being voted on by creditors and will likely be approved by the federal court (...)
CADTM successfully holds Citizen Debt Audit Training in Nairobi

19 August 2018 - by David Calleb Otieno

The Committee for the Abolition of Illegitimate Debts (CADTM) successfully held a three days training on Citizens Debt Audit in Nairobi, Kenya. The training that attended by delegates from Kenya, Uganda, Tanzania and Burundi was organized by the (...)
Africa : Strengthening the anti-debt initiatives in Kenya

15 August 2018 - by Sushovan Dhar

CADTM collaborated with Kenyan social movements to organise a training on debt audit and also a meeting to strengthen the anti-debt activities in Kenya. This programme held from July 29-30 at Nairobi (in the slums of Kangemi) witnessed the (...)