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14 November


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cadtm.org
14 November 2022
EDITO

The Swedish climate activist, Greta Thunberg, boycotted the current COP 27 being held in Egypt, criticising the global summit as a forum for "greenwashing." Indeed, the vacuous and evasive discussions at the UN Climate Change Conferences have dashed our hopes for a better world. Apart from sporadic efforts for climate change mitigation, these talks have practically failed to deliver any tangible result. We firmly believe that climate justice can only be possible through a radical realignment of production relations. Can this be achieved without debt justice? We also present our readers with more articles on the climate crisis, including a video of Greta's speech. Patrick Bond's article on the role of the World Bank at COP 27 has great depth of insight.

No other continent bears the burden of odious and illegitimate debt more than Africa. The presentation on the doctrine of Odious debt in the context of Africa today deals with odious debt and a series of instances of unilateral repudiations of public debt by sovereign states. It also explains the current African context by asserting the need to gain the cancellation of the odious debt claimed from African countries, and it concludes with the complementary measures to be taken following a debt suspension or repudiation.

A year after the "Pandora Papers," we look back at Éric Toussaint’s testimony before the Ecuadorian National Assembly on October 23, 2021. He asserted that the president, Guillermo Lasso, was in contradiction with Ecuadorian law by directly or indirectly owning companies in tax havens. The latter is still in power and evades justice.

Maxime Perriot draws our attention to the austerity measures that are currently in place in Europe. Thatcherism's legacy lives on in successive British governments alternately led by the Conservative party or the Labour Party. They have systematically succeeded in dismantling the public sector while doling out tax giveaways to the rich.

The training programme for CADTM West African youth activists, held in Dakar, Senegal, between October 30 and November 2, was a grand success. It was attended by more than twenty activists from nine different countries. The sessions attempted to create an understanding of the debt system and the means of abolishing debt slavery.

We welcome everyone to the CADTM South Asia workshop in Colombo, Sri Lanka, from December 2–4, 2022. The workshop will primarily deal with the global debt crisis, the Sri Lankan crisis and possible ways forward, the IMF as the lender of last resort, private debt and the overall lessons for South Asia.

Also read articles on South Africa, Brazil, Sri Lanka, India, the US, and others.

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