Health

Puerto Rico Faces Crises: Covid, Hurricanes, Earthquakes, Drought

20 July 2020 - by Dan La Botz

The United States has suffered 135,000 deaths from COVID-19 and has tens of millions of unemployed and both crises continue now into the fifth month, but nowhere has the economic crisis been greater than in the U.S. colony of Puerto Rico. Governor Wanda Vázquez was the first governor in the (...)
On the World Economic Crisis

20 July 2020 - by Eric Toussaint, Dan La Botz

The Covid-19 pandemic and the worldwide lockdown have triggered a depression as great as that of the 1930s. The causes of this crisis, the character of government policies, and the programs put forward by working class groups are of concern to all of us. So, to look into these questions, we (...)
Agro-imperialism in the time of Covid-19

16 July 2020 - by GRAIN

Nestlé, the world’s largest food company, is known for scandal. It earned the nickname “babykiller” in the 1970s for causing infant illness and death in low-income communities by promoting bottle feeding of its infant formula and discouraging breast feeding. In recent years, similar charges have (...)
United States of America: Socialism for Big Capital and wild capitalism for the poor

10 July 2020 - by Eric Toussaint

While the US has been set ablaze since the end of May 2020 by a multitude of major antiracist demonstrations [1] and the ordinary working people of the world’s top power remain hard hit by the Covid-19 pandemic (as of 9 July 2020, in the United States, according to official figures more than 3.1 (...)
IMF: if you didn’t like the starter, wait for the main dish

5 July 2020 - by Amandla

The Treasury has made clear that it is seeking a smallanyana three to five year loan from the International Monetary Fund (IMF) of $4.2 billion, at a smallanyana interest rate of 1 or 1.1%. It will also be looking for a loan of $55-60 million from the World Bank. And another good diplomatic (...)
The farcical Rupees (INR) 20 trillion ($265 billion) stimulus package

29 June 2020 - by Sankha Subhra Biswas

While the whole world is suffering from the COVID-19 pandemic with more than 10 million people affected by it, the economic crisis is more acute than ever. As a response, the governments of the developed as well as the developing countries came up with several financial stimulus to stabilize (...)
Launching a new powerful international social and political movement

9 June 2020 - by Eric Toussaint, Alexis Cukier

We publish this interview of Eric Toussaint conducted by Alexis Cukier in May 2020 for the Greek alternative media K-Lab. In this interview, Eric Toussaint sketches out the outline of a new international social and political movement to be built. Eric Toussaint: In any case, as I see it, (...)
Immediate cancellation of South Asian debts!

8 June 2020 - by CADTM, Collective

The coronavirus has unveiled the spectre of a larger crisis. A majority of the planetary economies were already in the throes of over-production, stagnation and even, a recession, which deepened with the day, since the sub-prime crisis of 2008-09. The pandemic has exacerbated the situation. The (...)
IIF Private creditor participation proposal: A cure worse than the disease

5 June 2020 - by Daniel Munevar

Following the G20 Debt Service Suspension Initiative (DSSI) announced during the 2020 Spring Meetings, the International Institute of Finance (IIF) has released a template for the voluntary involvement of private creditors in a debt service suspension. The proposal is the result of a (...)
Running to the now ‘reformed’ IMF would be a mistake

3 June 2020 - by Dominic Brown

Covid-19 creates an opportunity for the government to act boldly, which includes greater investment in social services and a much larger public sector Historically regarded as a villain that has obstructed the prosperity of “developing nations”, the International Monetary Fund (IMF) has taken (...)
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 (...)
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 (...)
“Business as usual” at Socfin and Bolloré...

26 May 2020 - by CADTM France, Collective

On 26 and 27 May 2020, the Socfin and Bolloré groups hold their annual general meetings. Socfin, which is 39,7% owned by Bolloré, controls 400,000 ha of oil palm and rubber tree concessions in ten African and Asian countries with the participation of Bolloré. While in Luxembourg and Paris, (...)
Millions forced to choose between hunger or Covid-19

26 May 2020 - by GRAIN

On the eve of May Day 2020, in full coronavirus pandemic, the International Labour Organisation (ILO) released some hair raising statistics. About 1.6 billion workers from the informal sector are in dire straits because of the lockdowns governments have imposed to stop the spread of the virus. (...)
The Corona pandemic and the Struggle for our Peoples’ Resources and Food Sovereignty

22 May 2020 - by Omar Aziki

This is a transcript Omar Aziki’s presentation of the North African Network for Food Sovereignty and was a part of our first webinar in Arabic. North African Network for Food sovereignty Today, it appears that the Coronavirus Pandemic will inadvertently cause humanitarian tragedies of (...)
Call of peoples, organizations, movements and networks in North Africa and the Middle East/The Arab region – For the cancellation of debts and dropping of the “free trade” agreements

20 May 2020 - by Collective

To address the Corona pandemic and its severe consequences: the need to break with the tools of imperialist domination over our peoples: indebtedness and “free trade” agreements The people of North Africa and the Middle East/The Arab region are facing a great ordeal in light of the global (...)
UNCTAD calls for aid plan and hard tackles creditors

15 May 2020 - by Milan Rivié

The coronavirus pandemic has triggered a real economic crisis whose effects will be as severe as they are long-lasting, even more so in the countries of the South. In recent days, the international financial institutions’ announcements to cancel their public foreign debt have multiplied. The (...)
Along with Bernie Sanders and Alexandria Ocasio-Cortez, 300 parliamentarians from around the world are writing to the IMF and World Bank to cancel the debt

15 May 2020 - by Collective

Editor’s note : We are publishing a letter sent to the IMF and the World Bank by 300 worldwide parliamentarians. In this letter the 300 parliamentarians call for the “complete debt remission of the International Development Association’s (IDA) countries by all the main international financial (...)
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 (...)
Cancel the debt so doctors and nurses can keep saving lives

7 May 2020 - by Collective

A call for urgent action to support doctors and nurses on the frontlines of the Coronavirus pandemic. We are all health workers, nurses, doctors. Every day we are on the frontline fighting this virus. Every day we are on the wards, in the emergency rooms. Every day we see first-hand the (...)
The scarring

4 May 2020 - by Michael Roberts

Optimism reigns in global stock markets, particularly in the US. After falling around 30% when the lockdowns to contain COVID-19 virus pandemic were imposed, the US stock market has jumped back 30% in April. Why? Well, for two reasons. The first is that the US Federal Reserve has intervened (...)
President Macron never intended to cancel African debt

4 May 2020 - by Pauline Imbach

Had we been born yesterday, we would have been tempted to believe that the question of African debt was finally going to be taken seriously. Emmanuel Macron, wielding a magic wand, was about to cancel the continent’s debts, once and for all. Yet, like every bad magic trick, you could see how he (...)
Citizen Action is Central to the Global Response to Covid-19

27 April 2020 - by Walden Bello, Isabel Ortiz

NEW YORK and MANILA, 22 April 2020 (IPS) - The coronavirus (COVID-19) pandemic has created an unprecedented human and economic crisis. Governments are taking strong actions, enforcing quarantines to reduce contagion, testing populations, building emergency intensive care units. Governments have (...)
Nepal needs Total Debt Cancellation to face the Covid-19 Crisis

23 April 2020 - by Praman Adhikari

The devastation caused by the coronavirus pandemic is a serious threat which has brought our civilisation and economies at the brink of collapse. The current crisis in every sector of our lives has revealed how weak our system is when it comes to fighting back and containing the spread of the (...)
Cancel the debt

23 April 2020 - by Mustafa Talpur

Last week, the G20 group of rich countries decided to postpone the debt payment that is due to be paid to G20 governments up to the end of 2020 for developing countries. This will help Pakistan free up some resources to tackle the pandemic. However, this is still not a matching response to (...)

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