Finance against people
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Liberate South African public pension from stock market
27 March 2020 - by Dominic Brown
Globally, stock markets are reported to have lost more than $13-trillion dollars over the past month. South Africa was not spared. On March 12 and 13 the Johannesburg Stock Exchange (JSE) dropped by 10%, the biggest single fall in the JSE since (…) -
Fighting Coronavirus: It’s Time to Invest in Universal Public Health
26 March 2020 - by Isabel Ortiz, Thomas Stubbs
NEW YORK and LONDON, Mar 23 2020 (IPS) - Austerity policies pushed by international financial institutions have weakened public health systems, despite current financial support packages, condemning many people to die. As health systems of (…) -
Banks are weapons of mass destruction
To confront capitalism’s multifaceted crisis the bankers must be expropriated and the banks socialised
26 March 2020 - by Eric Toussaint
Bank shares have been plunging since mid-February 2020. If the big and institutional holders are selling these urgently, it must be because they are at risk. Governments and banking authorities systematically lie about the results of banks’ (…) -
Escaping the Debt Trap
21 March 2020 - by Michael McCallister
You can’t really understand the world, especially global North-South relationships, without understanding how foreign aid works. The Debt System will help you do that. The book argues for the necessity of a radical restructuring of global (…) -
The Capitalist Pandemic, Coronavirus and the Economic Crisis
19 March 2020 - by Eric Toussaint
Translation in bengali for Bangladesh and West Bengal (India) A public health crisis The coronavirus pandemic is a serious public health problem and the human suffering caused by the spread of this virus will be enormous. If it massively (…) -
“Life and Blood of our country, but we only have debt!”
5 March 2020 - by Amali Wedagedara
More than 700 women from 14 districts came to Colombo on February 27 to protest against government inaction on the microfinance debt crisis. Recalling a popular election slogan during the last Presidential election they demanded that the promise (…) -
No, the coronavirus is not responsible for the fall of stock prices
5 March 2020 - by Eric Toussaint
We are witnessing a big crisis in the stock markets of the Wall Street, Europe, Japan and Shanghai, and many blame the coronavirus for it. In the last week of February 2020, the worst week since October 2008, the Dow Jones fell 12.4%, the S&P (…) -
Let us unite against micro-credits and illegitimate debt
4 March 2020 - by Sushovan Dhar
For every KSh 100 Kenya is collecting in tax revenue, it is spending KSh 130 to fund its budget needs, an overspending that is driving its voracious debt appetite to plug the shortfall. An analysis of the most recent expenditure data published by (…) -
Only a citizen’s audit of SGR debt will unravel public heist of resources
29 February 2020 - by David Calleb Otieno
Early this week, Kenyans woke up to blockbuster like stories of how prices of items and commodities related to the Kenyan Standard Gauge Rail (SGR) project were extremely inflated perhaps explaining why the Kenyan SGR is far much more expensive (…) -
Colombo declaration on illegitimate debt
27 February 2020 - by CADTM South Asia
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 (…) -
The Microcredit Scam
20 February 2020 - by Nathan Legrand, CADTM South Asia
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 (…) -
Feminisation of micro credit
20 February 2020 - by Nalini Ratnarajah
The eighth CADTM South Asia regional workshop was successfully held in Colombo (Sri Lanka) from February 18-19, 2020 with participants from Sri Lanka, India, Pakistan, Bangladesh, Morocco, Belgium and France. Around forty delegates, representing (…) -
An ABC of the ailing World Trade Organization
18 February 2020 - by CADTM
The IMF and the World Bank were not the only institutions to emerge to consolidate the world’s economy after World War II. Discussions between Allies, mainly the United States and Great Britain, concluded with the notion of an international trade (…) -
Kangemi Declaration
14 February 2020 - by CADTM
We, the participants of the 2nd CADTM East Africa Regional Meeting from Uganda, Kenya and Tanzania as well as from Morocco and India gathered at Kangemi, Nairobi in Kenya from 7 to 9 February 2020 do hereby acknowledge and affirm that (…) -
Series: 1944-2020, 76 years of interference from the World Bank and the IMF (Part 2)
The International Monetary Fund (IMF): an ABC
12 February 2020 - by CADTM
In 2020, the World Bank (WB) and the IMF are 76 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 (…) -
IMF and World Bank complicit in ‘austerity as new normal’, despite availability of alternatives
12 February 2020 - by Bretton Woods Project
Summary – Austerity projected to affect 5.8 billion people by 2021 – UN offers handbook on alternative financing options – IMF and World Bank continue to cling to unnecessary and harmful fiscal orthodoxy In October, a report by Matthew (…) -
State of Power 2020
Corporations as private sovereign powers: the case of Total
7 February 2020 - by Alain Deneault
Total is viewed as “a French oil company,” but in reality it is — like many other transnational corporations — more like a private sovereign power. Contribution of the philosopher Alain Deneault at « State of Power 2020 ». Having studied, (…) -
Series: 1944-2020, 76 years of interference from the World Bank and the IMF (Part 1)
The World Bank: an ABC
3 February 2020 - by CADTM
In 2020, the World Bank (WB) and the IMF are 76 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 (…) -
Unitedly we fight against debt and all other oppressions!
2 February 2020 - by CADTM Asie
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 (…) -
Debt Against the People: an ABC
29 January 2020 - by Eric Toussaint
Introduction Over the last ten years Greece has been a prime example of how a country and a people can be deprived of their liberty through clearly illegitimate debt. Since the 19th century, from Latin America to China, Haiti, Greece, Tunisia, (…) -
The Committee for the Abolition of Illegitimate Debt (CADTM) on private debt and human rights
13 January 2020 - by Chiara Filoni, Eva Betavatzi, Mats Lucia Bayer
This is our contribution to the appeal made by the UN Independent Expert on the effects of foreign debt and other related international financial obligations of States on the full enjoyment of all human rights, Mr. Juan Pablo Bohoslavsky. Mr. (…) -
Le défaut de paiement de dette de Infrastructure Leasing & Financial Services (IL&FS) : Privatiser les profits, socialiser les pertes ?
31 décembre 2019 - par Sushovan Dhar
Même lorsque l’effondrement de Lehman Brothers a secoué l’ensemble du monde financier, les élites politiques indiennes et la classe capitaliste étaient tout à fait convaincues que la contagion ne se propagerait pas à l’Inde. Il est vrai que les (…) -
The accomplices to austerity are also responsible for human rights violations
21 November 2019 - by Juan Pablo Bohoslavsky
The question is not whether austerity plays a role in violating human rights but how big a role it plays: how much of an impact it has on indicators such as mortality rates, employment, equality, health, housing and levels of violence. (…) -
Alert on the sophistication of illegitimate debt techniques via mobile telephony
8 November 2019 - by Eric Toussaint
In the era of widespread mobile telephony, we witnessed certain capitalist firms employing a sophistication of techniques to ensure the illegitimate debt of the lower classes. Kenya, a country of 50 million people, is considered to be at the (…) -
The top 1% own 45% of all global personal wealth; 10% own 82%; the bottom 50% own less than 1%
6 November 2019 - by Michael Roberts
The annual Credit Suisse (CS) report on global wealth has just been released. This report remains the most comprehensive and explanatory analysis of global wealth (not income) and inequality of wealth. Every year the CS global wealth report (…)
CADTM
COMMITTEE FOR THE ABOLITION OF ILLEGITIMATE DEBT
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