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The IMF is back in Argentina: “an economic and social crisis, even more serious than the present one, looms large on the horizon”
27 June 2018 - by Eric Toussaint, Sergio Ferrari
1. The vicious circle of illegitimate debt grapples the Argentine people once again 2. IMF’s $ 50 billion loan surpasses Greece’s previous record Sergio Ferrari from Berne, Switzerland interviewed Eric Toussaint, international debt specialist (...) -
“You dropping BRICS from above? We’re throwing bricks from below!”
26 June 2018 - by The BREAK the BRICS Coalition
The rapper Ewok captured the spirit of progressive social forces in South Africa with his condemnation elite politics at a March 2013 protest outside the Durban International Convention Centre, South Africa: “You dropping BRICS from above? We’re (...) -
The method in the madness: Uganda’s budget 2018 is divorced from reality
19 June 2018 - by Mary Serumaga
The report of the Auditor General (AG) for 2016–2017 is another catalogue of systemic theft, embezzlement and wastage of public goods. In this, it is similar to audit reports going back at least two decades. It appears that incompetence as much (...) -
Argentina: Macri’s Neoliberal Fantasies
13 June 2018 - by Claudio Katz
In the middle of his term, Argentinian president Mauricio Macri cannot hide the monumental abyss between his promises and reality. The promise was of an influx of dollars to lower inflation, with high growth, job creation, an entrepreneurial (...) -
BRICS in Africa: “You are either at the table or on the menu”
5 June 2018 - by Patrick Bond
At a Johannesburg BRICS think tank, scholars get drunk on their own rhetoric South African academics and think tanks met on 28-31 May 2018 for deliberations leading to the July 2018 BRICS heads of state summit to be hosted by South Africa. (...) -
China vs the US: The new imperial scramble for Africa and global rivalries
4 June 2018 - by Lee Wengraf
Lee Wengraf writes that the rush for profits, economic volatility and militarization across Africa promises only instability, rising exploitation and violence. Since the start of the new millennium, sub-Saharan African economies have undergone (...) -
China-Africa relations without Africans’ contributions
28 May 2018 - by Daouda Cissé
The piece relates that, at times, Africans are not invited to debates, conferences and other key platforms on Africa-China relations even though the topic is about Africa’s and Africans’ relations with China and Chinese. Recent discussions and (...) -
Semira Adamu 1998: They killed a woman, not her fight
21 May 2018 - by Coordination Semira Adamu 2018
On September 22, 1998, during a sixth attempt to eviction, Semira Adamu was killed, suffocated with a cushion by gendarmes who acted in accordance with state-imposed expulsion techniques. A rejected asylum seeker, Semira was twenty years old. (...) -
IMF conditionality: still undermining healthcare & social protection?
15 May 2018 - by Jesse Griffiths, Gino Brunswijck
The IMF tried last year to counter long-running accusations that its lending and advice programmes damage health outcomes in developing countries, but the independent evidence points in the opposite direction. The question is whether the IMF (...) -
Imperialism and Dependency: Similarities and Differences with the Marini era
8 May 2018 - by Claudio Katz, Richard Fidler
The main theorist of dependency anticipated trends of neoliberal globalization. He analyzed productive globalization, the centrality of exploitation and the relative weight of surplus value transfers. But the employment crisis exceeds what was (...) -
Éric Toussaint: “There is a disposition in the world’s masses for radical left proposals”
7 May 2018 - by Eric Toussaint
On 16 April 2018, Éric Toussaint was invited to speak about the role of the central banks and the banking sector at a seminar organised by Sampreeti – Sanskriti, a cultural association linked to the All India Reserve Bank Employees Association (...) -
UNCTAD: Debt warning lights flash for poorest countries, experts say
7 May 2018 - by UNCTAD
Top economists from UNCTAD and the International Monetary Fund agree it’s time to sound the alarm on rising public debt in many low-income countries but disagree on how loudly the bell should be rung. Mounting public debt in some of the world’s (...) -
‘New imperialism’ debate suffers from the omission of subimperialism
The BRICS, global governance, accumulation, class struggle and resource extractivism
25 April 2018 - by Patrick Bond
An exceptionally interesting debate about how imperialism is now behaving. Two leading critics of imperialism – John Smith and David Harvey – have recently fought bitterly at the Review of African Political Economy website (http://roape.net) (...) -
Damning testimonies of microcredit abuse
25 April 2018 - by Eric Toussaint, Nathan Legrand
Contrary to what is often claimed, microcredits are not a way out of poverty; on the contrary they most often result in a greater deprivation and humiliation of their victims. On the Indian sub-continent 65 million people have taken on a (...) -
India: Thriving Usury in Tirunelveli
23 April 2018 - by S. Aadhirai
The recent self-immolation of a family in Tamil Nadu drew widespread attention to the issue of usury prevalent in the state. Following a hearing on the depositions of 60 borrower victims at a people’s tribunal in Tirunelveli district, an attempt (...) -
European Parliament sounds the alarm over developing world debt crisis
20 April 2018 - by Mark Perera
The number of poor countries facing major debt crises has doubled since 2013, and only 1 in 5 are now considered to be at low risk of crisis. With some countries in the midst of crisis and others on the brink, meeting the Sustainable Development (...) -
Crony capitalism looms large on the Indian banking horizon
18 April 2018 - by Sushovan Dhar
The $1.77 billion Punjab National Bank (PNB) scam, possibly the biggest financial chicanery to have hit the Indian banking sector, is rocking the nation. Perpetrated by a diamond tycoon in collusion with bank officials, defrauding India’s second (...) -
Is Pakistan falling into China’s debt trap?
16 April 2018 - by Abdul Khaliq
• Pakistan will have to payback $100 billion to China by 2024 of total investment of $18.5 billion, which China has invested on account of bank loans in 19 early harvest projects, under CPEC. • China has become the biggest lender to Pakistan after (...) -
Pro-poor or anti-poor? The World Bank and IMF’s approach to social protection
13 April 2018 - by Stephen Kidd
In recent years, the World Bank and IMF have played an influential role in shaping national social protection policies. Social protection comprises a significant share of World Bank loans, reaching almost 10 per cent of lending to low-income (...) -
The World Development Report produced by the World Bank almost completely ignores workers’ rights
12 April 2018 - by Peter Bakvis
The World Bank decided last year to devote the 2019 edition of its flagship annual policy review publication, the World Development Report, to the theme of the future of work. Preparation of the WDR 2019 encountered some delay after the ouster (...) -
Senegalese economist Ndongo Samba Sylla: “the Continental Free Trade Area is a mistake” (Interview)
4 April 2018 - by Ndongo Samba Sylla, Maghreb Emergent
The economist Ndongo Samba Sylla is the author of the following books, among others: The Fair Trade Scandal: Marketing Poverty to Benefit the Rich and La démocratie contre la République: l’autre histoire du gouvernement du peuple. He tells Maghreb (...) -
Mozambique forced to restructure after debt default
27 March 2018 - by Abayomi Azikiwe
Economic growth proves unsustainable for the Southern African state of Mozambique in present world situation due to financial implications that have been going on for some time now. Since 2014 many energy producing emerging states in Africa (...) -
The Central Bank of Uganda Comes Clean About Looming Debt Distress
26 March 2018 - by Mary Serumaga
Uganda has finally admitted that there is an increasing likelihood that the country will default on its debt obligations. The (Central) Bank of Uganda issued the warning in the first quarterly State of the Economy Report of 2018. The public (...) -
Developing country debt payments increase by 60% in three years
22 March 2018 - by Jubilee Debt Campaign
Figures released today by the Jubilee Debt Campaign, based on IMF and World Bank databases, show that developing country debt payments increased by 60% between 2014 and 2017. They are now at the highest level since 2004. Government external (...) -
South Africa: Cyril Ramaphosa Relaunches Neo-Liberalism
28 February 2018 - by Patrick Bond
After Jacob Zuma’s Firing, South Africa Risks Budget Austerity and Even Renewed BRICS ‘Poisoning’ Cyril Ramaphosa’s soft-coup firing of Jacob Zuma from the South African presidency on February 14, after nearly nine years in power and a humiliating (...)
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