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The Fate of the Revolution

22 February 2018 - by Nathan Legrand

Tunisia’s ruling class is pursuing the same economic policies as the authoritarian regime it replaced. In the first half of January, a wave of protests spread across Tunisia. Most observers say that the new finance law, implemented at the (...)
The Doing Business Report: a longstanding controversy

5 February 2018 - by Gino Brunswijck

Recent criticism of Chile’s ranking in the Doing Business Report (DBR) has once again put the report in the spotlight, with renewed calls for scrapping the highly controversial annual World Bank publication. Over the years Eurodad has (...)
New Evidence of Africa’s Systematic Looting, From an Increasingly Schizophrenic World Bank

5 February 2018 - by Patrick Bond

A brand new World Bank report, The Changing Wealth of Nations 2018, offers evidence of how much poorer Africa is becoming thanks to rampant minerals, oil and gas extraction. Yet Bank policies and practices remain oriented to enforcing foreign (...)
The Roots of the Egyptian Crisis

16 January 2018 - by Joel Beinin

Egypt’s current crisis highlights the flawed foundations of its post-revolutionary state. But liberal nostalgia for the days of the monarchy is equally misplaced. ohamed Bouazizi, a long-suffering and dispossessed farmer turned street vendor, (...)
Final declaration of the Maghreb seminar: ‘Free trade’ agreements and food sovereignty

2 January 2018 - by ATTAC/CADTM Morocco

On December 15, 16 and 17, 2017, ATTAC Morocco, a member of the global network for the abolition of illegitimate debts (CADTM), organized a Maghreb seminar on free trade agreements, agriculture and food sovereignty under the slogan: No to (...)
A New Wave of Water Privatisation in Indonesia

1 January 2018 - by Irfan Zamzami

The central government of Indonesia has repeatedly announced its intention to universalise access to clean water by 2019. To achieve this, an estimated 27 million new connections are needed, with a major investment gap of IDR 274.8 trillion (...)
The Bamako Seminar, The CADTM network reinforces the struggle against illegitimate debt !

27 December 2017 - by Nathan Legrand, Fatima Zahra El Beghiti

The CADTM International network delegations met in Bamako, Mali, from 15 to 25 November 2017 to follow several political training and coordination activities. Indeed the third “women, debt and microcredit” seminar, the annual CADTM training (...)
The revival of the Commonwealth: an opportunity for further exploitation or a time to correct past wrongs?

22 December 2017 - by Mary Serumaga

The Origins of the Commonwealth ‘Commonwealth’ is a word being heard with increasing frequency in the post-Brexit era. It had always been used to refer to the British Empire – first to Australia in the 1890s and later to other territories. From (...)
How the Bank’s push for microcredit failed the poor

19 December 2017 - by Milford Bateman

Popularised in the 1980s by the work of future (in 2006) Nobel Peace Prize recipient, Muhammad Yunus, the microcredit model was seen as the most awe-inspiring local economic development model of all time. The disbursement of a simple microloan (...)
Debt sustainability review: Tinkering around the edges while crises loom

19 December 2017 - by Tim Jones, Mark Perera

Under the joint Debt Sustainability Framework (DSF) of the World Bank and IMF (Bretton Woods Institutions or BWIs), regular assessments of the risk of external debt distress are conducted for all countries that are eligible to borrow from either (...)
Belt and Road Initiative (BRI) and the Least Developed Countries (LDCs)

18 December 2017 - by Sudhir Shrestha

When Belt and Road Forum (BRF) was held on May 14-15, 2017 in Beijing, four Least Developed Countries (LDCs), namely Cambodia, Ethiopia, Laos and Myanmar, sent their highest level of delegation as their support to the Belt and Road Initiative (...)
The Odious Iraqi Debt

12 December 2017 - by Eric Toussaint

This article, originally written towards the end of 2003, is now published on our website for the first time in English. The odious Iraqi debt is still under-documented today, though it is highly relevant in our research and our proposals (...)
The case for repudiation of Uganda’s public debt

8 December 2017 - by Mary Serumaga

Uganda is in imminent danger of defaulting on its debt repayment obligations. The Auditor General notes in 2017 that interest payments on the public debt exceeded legal limits (15% of the annual budget) and are likely to be unsustainable going (...)
Hunger, Foreign Debt and Uganda’s Fairytale Budgets

29 November 2017 - by Mary Serumaga

An abiding image of Uganda in April 2017 is of a group of elderly people squatting around an anthill, men and women, patting it with bunches of greenery to coax the termites out. They then pluck up the termites and eat them, not as the seasonal (...)
Final declaration of the Bamako “Women, Debt and Microcredit” seminar

29 November 2017 - by CADTM International

We, women of the CADTM Africa network, from Benin, Burkina Faso, Cameroon, Côte d’Ivoire, Gabon, Guinea, Conakry, Mali, Morocco, Niger, Congo Democratic Republic, Republic of Congo, Senegal, Togo, as well as Argentina have met for the 3rd session (...)
Ready for the next storm? Debt (crisis) management discussed at the UNCTAD and Paris Club

28 November 2017 - by Bodo Ellmers

The number of poor countries that are in debt crisis is increasing rapidly, as is the share of public revenue that southern governments need to divert from essential services to pay down debts. The international community is awaiting the storm (...)
Report

We saw Puerto Rico’s struggle to survive

27 November 2017 - by Monique Dols, Lance Selfa

The federal government in Washington and local government agencies in Puerto Rico are eager to project the appearance of the island returning to a pre-Hurricane Maria status quo. But millions of Puerto Ricans know better. SocialistWorker.org (...)
The bullet train project in India: a story of white elephant and public debt

27 November 2017 - by Sushovan Dhar

We are a happy nation waiting to ride the bullet train... The Mumbai-Ahmedabad High Speed Rail (MAHSR), connecting these major metropolis in western India, is soon to be built with Japanese finance and assistance. The Japanese PM Shinzo Abe (...)
Farmers storm India’s national capital, demanding freedom from debt and better price for their produce

24 November 2017 - by La Via Campesina

Several thousand small-holder farmers from across India held a massive demonstration in New Delhi, from 20-21 November to draw attention to the acute agrarian distress plaguing the countryside and seeking immediate intervention by the Union (...)
Interview published by Le Monde

Latin America: 200 years of the infernal cycle of debt

23 November 2017 - by Eric Toussaint, Marie Charrel

Eric Toussaint, of the CADTM (Committee for the Abolition of Illegitimate Debt), explains the difficulties encountered by States overly dependent on raw materials. With a PhD in Political Science and speaking for CADTM international, Eric (...)
Zimbabwe witnessing an elite transition as economic meltdown looms

20 November 2017 - by Patrick Bond

In Harare, Bulawayo and smaller Zimbabwean cities, hundreds of thousands of citizens joyfully of Robert Mugabe at the age of 93. Initially refusing to resign, his rambling speech the following evening revealed a man either out of touch with (...)
Brazil: the debt dilemma

16 November 2017 - by Michael Roberts

Brazil faces a presidential election in October 2018. This will offer a new benchmark for which way Brazilian politics and the economy will go. Will a coalition of pro-big business parties and a president win or will a coalition led by the (...)
Haiti: From trafficking to debt

11 November 2017 - by Jérôme Duval

This Caribbean country is not in debt, it is a creditor. It is France which owes it money. Explanation by Jerome Duval, of CADTM. Translated by Jenny Bright. Poverty in colonised countries has greatly increased due to a transfer of debt: the (...)
Punitive Neoliberalism and Financial Melancholia in Puerto Rico

6 November 2017 - by Rafael Bernabe

BEFORE HURRICANE MARIA smashed into Puerto Rico with devastating force, the previous Hurricane Irma caused relatively manageable damage compared to its horrific impact in much of the Caribbean. Even so, the island’s electrical grid — before Maria (...)
Sri Lanka: Debt drives Jaffna mom, children to death

28 October 2017 - by Meera Srinivasan

Just as mounting household debt in Sri Lanka’s war-affected region began drawing national attention, a young mother in Jaffna, said to be heavily indebted, consumed poison along with her three children and died on Friday. Local media reports (...)