Finance against people
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Things to watch in 2019: Debt and emerging debt crises
18 January 2019 - by Bodo Ellmers
More than a decade after the last global financial crisis hit, the next wave of defaults is lapping at our shores. Financing conditions will become more difficult in 2019. The world’s major central banks ‘normalised’ their monetary policies last (…) -
Jim Yong Kim’s mixed messages to the World Bank, and the world
15 January 2019 - by Patrick Bond
Johannesburg – World Bank president Jim Kim is an ex-leftist who claims that in the mid-1990s he wanted to shut down the Bank. At the time, it was an entirely valid, realistic goal of the 50 Years is Enough! Campaign and especially the World Bank (…) -
The Infrastructure Leasing & Financial Services (IL&FS) Debt Default: Privatize Profits, Socialize Losses?
15 January 2019 - by Sushovan Dhar
Even when the Lehman Brothers collapse shook the entire financial world, the Indian political elites and the capitalist class were quite confident that the contagion would not spread to India. True, the Indian banks and financial institutions did (…) -
Break the Taboo on Odious Debts and their Repudiation
7 January 2019 - by Eric Toussaint
This English version of the interview originally published in French by the independent online journal Le Vent Se Lève (LVSL) has been fully revised and complemented by Eric Toussaint. The original French version is available here. Éric (…) -
The Domestic Consequences of China’s ‘One Belt One Road Initiative’
2 January 2019 - by Qian Benli
Currently, the prospects of China’s ‘One Belt One Road Initiative’ (hereinafter referred to as OBOR) are dim. An article published in the Financial Times in July this year pointed out that 234 out of 1,674 Chinese-invested infrastructure projects (…) -
With its controversial pension reforms, Russia is looking after its rich
17 December 2018 - by Karine Clément
Prime Minister Dmitry Medvedev announced a drastic reform of Russia’s pension system this June, just as the World Cup began: the retirement age would be increased from 55 to 63 for women and from 60 to 65 for men. Although President Vladimir (…) -
Vulture funds and governments seek profit from Sudan debt relief
11 December 2018 - by Tim Jones
Today (6 dec 2018) the Financial Times has reported that a group of vulture funds have hired lawyer Lee Buchheit to argue for debt relief for Sudan. They hope that if the North African country gets debt relief from governments and multilateral (…) -
Behind Puerto Rico’s Debt, Corporations That Drain Profits from the Island
10 December 2018 - by César J. Ayala
The Phenomenal Drain of Profits Beginning in the 1970s, Puerto Rico’s economy began to suffer a drain of profits, to the point where the measure of total income produced in the island, the Gross Domestic Product, began to separate dramatically (…) -
The Daewoo-Madagascar land grab: Ten years on
19 November 2018 - by GRAIN, TANY
On 18 November 2008, The Financial Times exposed a massive deal being negotiated between Daewoo Logistics and the government of Madagascar. Through this deal, the South Korean company was seeking access to no less than 1.3 million hectares to (…) -
History RePPPeated: How public private partnerships are failing
24 October 2018 - by Collective, Eurodad, Latindadd, ODG (Observatorio de la Deuda en la Globalización)
From the complete failure of the Castor Project in Spain, to an overpriced hospital in Sweden, projects financed by the European Investment Bank (EIB) make no exception to the list of PPP disasters compiled in this new joint report. The report (…) -
The euro project and the international integration of the South-Eastern European economies
13 October 2018 - by Ana Podvršič
In the recent years, scholars in critical international political economy have considerably explored the differences and similarities between the countries of the European periphery. Most of the studies, however, have focused on the structural (…) -
World Bank – IMF Guilty of Promoting Land Grabs, Increasing Inequality
8 October 2018 - by La Via Campesina
“Annual meeting in Bali this week is just a sham to cover up their criminal negligence of people’s interests,” say peasants. 07 OCTOBER, BALI: At a meeting of La Via Campesina facilitated by Serikat Petani Indonesia (SPI) in Bali, peasant (…) -
Ten years on, the crisis of global capitalism never really ended
3 October 2018 - by Jerome Roos
With inequality on the rise, global debt higher than ever and international tensions intensifying, the political backlash to the crash of 2008 has only just begun. This weekend marks the tenth anniversary of the collapse of Lehman Brothers, (…) -
Impact of economic reforms and austerity measures on women’s human rights
14 September 2018 - by Juan Pablo Bohoslavsky
The UN Independent Expert on Foreign Debt just released his latest report to the UN General Assembly on Gender and Austerity, to which CADTM has contributed. The report is part of his larger piece of work on developing guiding principles on human (…) -
How do patriarchy and capitalism jointly reinforce the oppression of women?
13 September 2018 - by Camille Bruneau
In the summary of the first chapter, we have laid out a number arguments for the necessity of feminism today. They include violence, the lack or suppression of fundamental rights, under-representation in politics, poverty, economic (…) -
Financial Crisis 10 years on – How the response to the last crisis laid the foundations for the next
13 September 2018 - by Bodo Ellmers
Ten years ago, on 15 September 2008, the US investment bank Lehman Brothers collapsed. This collapse is largely seen as a key event of the North Atlantic financial crisis, which also had spillover effects on the rest of the world. Around the (…) -
Philanthrocapitalism: The Gates Foundation’s African programmes are not charity
24 August 2018 - by Philip Bereano
The activities of the Gates Foundation are a major example of what has come to be called ’philanthrocapitalism’. Philip L Bereano argues that philanthrocapitalism is an attempt to use market processes to do good, and therefore problematic as (…) -
Japanese Investor’s (JICA) Guidelines Violated in the Mumbai - Ahmedabad High-Speed Rail Project (MAHSR)
20 August 2018 - by Krishnakant, Rohit Prajapati
The Japanese Government’s investment agency, the Japan International Cooperation Agency (JICA) is signatory to the Memorandum of Understanding (MoU) with the Indian Government for the Mumbai-Ahmedabad High-Speed Rail Project (MAHSR), popularly (…) -
Kenya Should Ignore IMF Reform Package and Stop Repaying Debts
19 August 2018 - by David Calleb Otieno
The Kenyan Peasants League (KPL), a member of the La Via Campesina (LVC) is concerned about the reform package being pushed down the throat of Kenyan government by the International Monetary Fund (IMF) that is already having adverse impacts on (…) -
The political cost of IMF programmes
17 August 2018 - by Bretton Woods Project
Summary - Political ramifications of IMF programme in Jordan trigger protests - Jordanian prime minister resigns - Developments raise broader questions around IMF conditionality In June, King Abdullah II of Jordan accepted the resignation of (…) -
Debts and feminisms: an overview of the book project – first chapter
13 August 2018 - by Camille Bruneau
Feminism and the situation of women is an ever-growing concern for the CADTM network, which becomes almost unavoidable in the broad fight against domination(s). Women are indeed impacted by debt in several ways; as the main contractors of (…) -
A new global credit crunch to come?
4 August 2018 - by Michael Roberts
At the time of the general election in Turkey, I pointed out that Turkey was near the top of the pile for a debt and currency crisis. It was running a massive current account (trade and payments) deficit with other countries and its external debt (…) -
EU Not Ending Greek Crisis, They End Greece
17 July 2018 - by F. William Engdahl
With great fanfare at the end of June, the 19 EU Eurozone finance ministers announced the end to the eight-year-long Greek debt crisis that brought the entire Euro structure into its deepest crisis to date. The exercise is a deep deception. The (…) -
Deloitte, EY, KPMG, PWC: How the Big Four are embedded in EU policy-making on tax avoidance
12 July 2018 - by Corporate Europe Observatory
We pay our taxes, so why don’t corporations? This new report shows how the Big Four are embedded in EU policy-making on tax avoidance, and concludes that it is time to kick this industry out of EU anti-tax avoidance policy. EU policy towards (…) -
Egypt: a repression made in France
9 July 2018 - by FIDH
A new report reveals today how the French State and several French companies have participated in the bloody Egyptian repression of the past five years by supplying Abdel Fattah al-Sisi’s regime with military and surveillance equipment. By (…)
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