Finance against people
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Theoretical lies of the World Bank
4 June 2020 - by Eric Toussaint
In 2020, the World Bank (WB) and the IMF will be 76 years old. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few allied major powers who work to generalize policies that run counter the interests of the world’s populations. The WB and (...) -
Time For A Renewed Anti-Debt Movement
1 June 2020 - by Eric Toussaint, Beverly Keene, Lidy B. Nacpil, Dorothy Guerrero
The coronavirus and global lockdowns mark 2020 as the year in which we re-confront these same issues, only this time with even greater life-or-death urgency, as leaders in one country after another, responding primarily to their own immediate fears, have introduced hitherto unthinkable (...) -
Capitulating to adults
31 May 2020 - by Michael Roberts
During the pandemic lockdown, I have been able to read a range of new economics books, some Marxist but most not. It seems that many leading economists have published new stuff in the last two months. Over the next few weeks, I shall post some reviews of these. I shall start with Sellouts in (...) -
Tackle the Household Debt Pandemic- Cancel Debt! Create Common Credit!
30 May 2020 - by Amali Wedagedara, Ermiza Tegal
The onset of island-wide curfew since mid-March delivered a blow to the economy of working people. Millions of working people lost their jobs, or had wage cuts. Small farmers could not sell their harvest or sell it at a decent price. Fishers could not sell their fish. Domestic workers, street (...) -
The World Bank and the IMF in Indonesia: an emblematic interference
13 May 2020 - by Eric Toussaint
In 2020, the World Bank (WB) and the IMF will be 76 years old. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few allied major powers who work to generalize policies that run counter the interests of the world’s populations. The WB and (...) -
The downward journey of stock markets, repurchase of shares and the story of fictitious capital
12 May 2020 - by Sankha Subhra Biswas
A severe crisis has gripped the world financial markets since early March 2020 and needless to say, India has not escaped this onslaught. The Indian stock markets are unable to halt this deep slide. On certain days the markets shows some strength but it keeps falling once again in the next (...) -
Self-Extinction of Neoliberalism? Don’t Bet on It
4 May 2020 - by Gilbert Achcar
This article was first published in New Politics. For the second time since the turn of the century, governments in North America and Europe are intervening massively with public funds and in conjunction with central banks to bail out entire sectors of the economy and prevent a general economic (...) -
Coronavirus, fictitious capital and financial crisis
25 April 2020 - by Sankha Subhra Biswas
The world has seen a spectre of corona virus! This deadly virus has already affected 2.84 million people with a death toll of almost two hundred thousand around the world. The number of people affected in India are 24,942 out which 779 persons have expired, as on April 25, 2020. Nevertheless, (...) -
The World Bank’s support of the dictatorship in Turkey (1980-1983)
24 April 2020 - by Eric Toussaint
In 2020, the World Bank (WB) and the IMF will be 76 years old. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few allied major powers who work to generalize policies that run counter the interests of the world’s populations. The WB and (...) -
“Suspend external debts and apply tax to the wealthy”, is it possible to face the health crisis?
22 April 2020 - by Eric Toussaint
Eric Toussaint, Belgian historian and doctor of Political Sciences from the University of Liège (Belgium), has spent a good part of his life auditing debts from different countries of the world and requesting the suspension of several of them due to their “illegitimate and hateful” character. He (...) -
The post-pandemic slump
15 April 2020 - by Michael Roberts
The coronavirus pandemic marks the end of longest US economic expansion on record, and it will feature sharpest economic contraction since WWII. The global economy was facing the worst collapse since the second world war as coronavirus began to strike in March, well before the height of the (...) -
World Bank and IMF support to dictatorships
9 April 2020 - by Eric Toussaint
In 2020, the World Bank (WB) and the IMF will be 76 years old. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few allied major powers who work to generalize policies that run counter the interests of the world’s populations. The WB and (...) -
Domination of the United States on the World Bank
2 April 2020 - by Eric Toussaint
In 2020, the World Bank (WB) and the IMF will be 76 years old. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few allied major powers who work to generalize policies that run counter the interests of the world’s populations. The WB and (...) -
“The Coronavirus pandemic is part of a multidimensional crisis of capitalism”
31 March 2020 - by Eric Toussaint, Henri Wilno
You wrote in a recent article: “The coronavirus was the spark or trigger of the stockmarket crisis, not its cause.” Can you be more specific? While governments and mainstream media keep claiming that the stockmarket crisis is a consequence of the coronavirus pandemic, I pointed out that all (...) -
No to IMF loans! Cancel Kenyan debt!
30 March 2020 - by David Calleb Otieno
On 4 March 2020, the International Monetary Fund (IMF) during a joint press conference with the World Bank Group announced that it was ready to lend $1 trillion to its members around the world that are struggling with the humanitarian and economic impact of the novel coronavirus. At the same (...) -
Liberate South African public pension from stock market
27 March 2020 - by Dominic Brown
Globally, stock markets are reported to have lost more than $13-trillion dollars over the past month. South Africa was not spared. On March 12 and 13 the Johannesburg Stock Exchange (JSE) dropped by 10%, the biggest single fall in the JSE since 1997. The all share index (the largest 164 (...) -
Fighting Coronavirus: It’s Time to Invest in Universal Public Health
26 March 2020 - by Isabel Ortiz, Thomas Stubbs
NEW YORK and LONDON, Mar 23 2020 (IPS) - Austerity policies pushed by international financial institutions have weakened public health systems, despite current financial support packages, condemning many people to die. As health systems of East Asia, Europe, and the Americas buckle under the (...) -
To confront capitalism’s multifaceted crisis the bankers must be expropriated and the banks socialised
26 March 2020 - by Eric Toussaint
Bank shares have been plunging since mid-February 2020. If the big and institutional holders are selling these urgently, it must be because they are at risk. Governments and banking authorities systematically lie about the results of banks’ stress tests. Mainstream media relay the false (...) -
Escaping the Debt Trap
21 March 2020 - by Michael McCallister
You can’t really understand the world, especially global North-South relationships, without understanding how foreign aid works. The Debt System will help you do that. The book argues for the necessity of a radical restructuring of global finance. Eric Toussaint is spokesperson of the (...) -
The Capitalist Pandemic, Coronavirus and the Economic Crisis
19 March 2020 - by Eric Toussaint
Translation in bengali for Bangladesh and West Bengal (India) A public health crisis The coronavirus pandemic is a serious public health problem and the human suffering caused by the spread of this virus will be enormous. If it massively affects countries of the Global South with very fragile (...) -
Why the Marshall Plan ?
19 March 2020 - by Eric Toussaint
In 2020, the World Bank (WB) and the IMF will be 76 years old. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few allied major powers who work to generalize policies that run counter the interests of the world’s populations. The WB and the (...) -
SUNFED versus World Bank
12 March 2020 - by Eric Toussaint
In 2020, the World Bank (WB) and the IMF will be 76 years old. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few allied major powers who work to generalize policies that run counter the interests of the world’s populations. The WB and the (...) -
“Life and Blood of our country, but we only have debt!”
5 March 2020 - by Amali Wedagedara
More than 700 women from 14 districts came to Colombo on February 27 to protest against government inaction on the microfinance debt crisis. Recalling a popular election slogan during the last Presidential election they demanded that the promise be kept, and microfinance debt be cancelled. (...) -
No, the coronavirus is not responsible for the fall of stock prices
5 March 2020 - by Eric Toussaint
We are witnessing a big crisis in the stock markets of the Wall Street, Europe, Japan and Shanghai, and many blame the coronavirus for it. In the last week of February 2020, the worst week since October 2008, the Dow Jones fell 12.4%, the S&P 500 fell 11.5% and the Nasdaq Composite fell (...) -
Early conflicts between the UN and the World Bank/IMF tandem
4 March 2020 - by Eric Toussaint
In 2020, the World Bank (WB) and the IMF will be 76 years old. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few allied major powers who work to generalize policies that run counter the interests of the world’s populations. The WB and the (...)
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COMMITTEE FOR THE ABOLITION OF ILLEGITIMATE DEBT
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