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Left Strategy in the Time of the IMF Counter-Revolution
30 May 2023 - by Devaka Gunawardena
Less than a year has passed since the 9th July uprising last year in Sri Lanka. Nevertheless, the contours of the present regime are well established. A loose network of progressive activists and trade unions have rightly kept the basic (...) -
Ukraine: Resisting creditors
23 May 2023 - by Eric Toussaint, Sushovan Dhar
Sushovan Dhar: What can be said about Ukraine’s debt 15 months after Russia invaded its territory? Éric Toussaint: I must first of all insist that Russia’s invasion of Ukraine is an unjustifiable and morally unacceptable act of aggression. Faced (...) -
Pakistan’s debt from China becomes burden as CPEC does not generate enough growth
16 May 2023 - by Abdul Khaliq
Since 2013, Pakistan’s historical relationship with China has taken on a geopolitical role through the launch of the China-led infrastructure connectivity project, the China-Pakistan Economic Corridor (CPEC), a key part of the Belt and Road (...) -
Pakistan Collapsing
9 April 2023 - by Farooq Tariq
Pakistan is facing one of the worst economic and political crises at present. The political crisis is best manifested by the fact that almost half the members of the National Assembly (the lower house of the parliament) have resigned, while two (...) -
Éric Toussaint, “The IMF and the WB bear a great responsibility in weakening countries that have to face external shocks”
5 April 2023 - by Dora Villanueva
After three years of Covid-19 pandemic, the world is facing “a genuine international debt crisis (…) nearly 80 countries of the South are close to defaulting” or are actually defaulting, Éric Toussaint, spokesperson for the Committee for the (...) -
The aftermath of Sri Lanka’s economic crash
5 March 2023 - by Meera Srinivasan
As the island nation eagerly awaits a provisional IMF package to chart its path to economic stability, it is currently witnessing a new wave of protests, mainly by workers and professionals, as people’s economic hardships increase. The government (...) -
Deal-or-default: Is it the endgame for Pakistan?
5 February 2023 - by Abdul Khaliq
The IMF mission is currently in Pakistan on a 10-day visit to discuss the stalled ninth review of the country’s current funding programme. The loan talks were restarted after the government finally yielded to IMF demands.Pakistan secured a $6 (...) -
Call for a global counter-summit of social movements to the IMF-WB Annual Meetings to be held in Marrakech from 9 to 15 October 2023
23 January 2023 - by CADTM International
In order to promote unity of action, the CADTM proposes that a common call to this counter-summit be drafted. It is addressed to all movements wishing to join forces in defence of humanity The Annual Meetings of the World Bank Group (WBG) and (...) -
The World Bank and IMF have set their sights on East Timor, a state officially born in May 2002
11 January 2023 - by Eric Toussaint
East Timor, located 500 km from the coast of Australia, won independence in May of 2002 after several decades of struggle. In 2003, when I went there at the request of the Timorese authorities, the country had a population of a little over (...) -
Carrying the debt
13 November 2022 - by Sarala Emmanuel
Feminist Collective for Economic Justice Co-Founder, researcher, and activist Sarala Emmanuel says that the brunt of the economic crisis has been borne by women and the brunt of the recovery proposals will also be borne by women. Following is (...) -
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 (...) -
IMF Deal: Cry, My Beloved Zambia
8 September 2022 - by Grieve Chelwa
The International Monetary Fund (IMF) yesterday published the conditions attached to the newly agreed programme with the Zambian government. The conditions are incredible, unbelievable, heartless and basically make for very sad reading. They are (...) -
Double penalty for Pakistan drowning in floods and debts
5 September 2022 - by Abdul Khaliq
Pakistan’s devastating floods have so far, killed over 1200 people, mostly children, since 14 June 22, displaced around 33 million and eroded livelihoods with the loss of an estimated one million livestock. In addition, floods washed away at (...) -
‘The Canary in the Coal Mine’: Sri Lanka’s Crisis is a Chronicle Foretold
7 August 2022 - by Eric Toussaint, Balasingham Skanthakumar
Sri Lanka’s acute economic crisis and sovereign debt default, along with its people’s uprising in 2022, has drawn attention across the world. It is described as the ‘canary in the coal mine’, that is, a harbinger of the likely future for other (...) -
The global solution: private or public?
4 July 2022 - by Michael Roberts
Inflation, risk of global recession, growing inequality and rising debt for the global south, global warming, war – I could go on. These are the fault-lines exhibited in the world economy in 2022. What is to be done about it? It is revealing (...) -
The Rotten Roots of the IMF and the World Bank
16 June 2022 - by Jamie Martin, Daniel Steinmetz-Jenkins
A conversation with Jamie Martin about the imperial origins of the world’s economic governance, imagining an alternative to these institutions, and his new book, The Meddlers. The International Monetary Fund and the World Bank have long been (...) -
Eric Toussaint: “The IMF agreement with Argentina is perversely sophisticated”
15 June 2022 - by Eric Toussaint, Martín Mosquera
This interview was done by Martín Mosquera for the Latin-American magazine Jacobinlat. Martín Mosquera (Jacobinlat): Concerning Argentina’s agreement with the IMF, there are two ideas presented by the national government that need to be examined: (...) -
The IMF in Debt Restructuring, the Resurgence of Austerity, and the Urgency of Fiscal Justice
27 May 2022 - by Bhumika Muchhala
As Sri Lanka officially defaults on its sovereign debt repayments, and enters negotiations with the International Monetary Fund for access to loans in return for structural macro-economic change in response to the ongoing economic crisis, the (...) -
’Austerity’ for the poor
IMF ‘double standard’ displays capitalism’s inherent inhumanity
20 May 2022 - by Prabhat Patnaik
For over two years now, the world has been facing a pandemic the like of which has not been seen for a century, and which has already taken 15 million lives according to the WHO, without being anywhere near an end. This is an unprecedented (...) -
Pakistan : Regime Change, Political Turmoil and Deepening Debt Crisis
3 May 2022 - by Abdul Khaliq
Pakistan has plunged into a major political crisis after the removal of Prime Minister Imran Khan on 10 April 22, through a successful no-confidence motion against the PTI govt. The month-long political crisis began on 8 March when the country’s (...) -
The Argentinian (2001) and Sri Lankan (2022) Financial Crises: Ways Forward from a Feminist Perspective
27 April 2022 - by Corina Rodriguez
In response to Sri Lanka’s ongoing economic crisis, and the consensus across the political spectrum and even social classes that an International Monetary Fund (IMF) bail-out and structural adjustment programme is the only short-to-medium term (...) -
Sri Lanka: No agreement with the IMF!
15 April 2022 - by Eric Toussaint, Sushovan Dhar
A Sri Lankan delegation will travel to Washington next week to try to secure up to $4 billion from the International Monetary Fund and other lenders to help the island nation pay for food and fuel imports as well as stem defaults on its debt. (...) -
Argentine civil society denounces new IMF agreement as illegitimate
9 April 2022 - by Bretton Woods Project
As reported by Al Jazeera, the Argentine Senate voted on 18 March to proceed with a 30-month Extended Fund Facility (EFF) arrangement of $45 billion or 1000 per cent of the country’s quota. The programme was agreed upon days ahead of a payment of (...) -
Why the Popular Movement in Argentina Against the Debt and the IMF is Important
8 April 2022 - by Maria Elena Saludas
The Argentine government and International Monetary Fund (IMF) negotiators reached an agreement on 3 March to refinance some 45 billion dollars in debt. An agreement that was ratified by a majority of Members of Parliament (MPs) on the night of (...) -
Urgent plea by Sri Lankan feminists to address the unfolding humanitarian crisis caused by the economic collapse in Sri Lanka
6 April 2022 - by Collective
Sri Lanka is facing the worst economic crisis in its post-independence history. Widespread food and fuel shortages are crippling the lives of people. Such a situation that has already lasted several weeks is now resulting in widespread protests (...)
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