Illegitimate debt

• Statement of the Popular Campaign to Drop Egypt’s Debt

  Egypt. Debt Swap is not an Alternative to Cancelling Odious Debt

  by Popular Campaign to Drop Egypt’s Debt

  17 February 2012

  Background Amidst a general atmosphere of an extreme lack of transparency it has come to our knowledge that Egypt had sealed agreements with three European countries pertaining to the implementation of debt swap programs, and is currently negotiating with two further countries. The countries in question according to informal sources are Germany, France, Italy and Belgium. The Popular Campaign to Drop Egypt’s Debt would like to raise strong concerns regarding the conditions under which these (...)

• Tunisia: Call for the immediate suspension of debt repayment

  
  by Raid Attac/Cadtm Tunisie

  20 November 2011

  Tunisia urgently needs to marshal all of its financial resources to meet immediate needs, including extreme poverty, benefits for the unemployed, improving workers’ material conditions, etc. Meanwhile, we’re getting reports of foreign initiatives to develop an emergency “aid” package for Tunisia, including 17 million euros from the European Commission and 350,000 euros from the French state. The European Investment Bank and the African Development Bank are also preparing to lend Tunisia millions of euros.

• Press release

  Pakistan. Political parties call for Pakistan’s foreign debt cancellation, launch anti-debt movement

  
  by CADTM Pakistan, Labour Relief Campaign Pakistan

  2 September 2010

  A Multiple Party Conference held in Lahore on 29th August resolved to launch a campaign against repayment of Pakistan’s foreign debts and organize protest rallies across the country. 28 political parties, trade unions, women groups and civil society organizations joined the conference. It was decided to initiate the campaign by rallies in Lahore, Karachi and Islamabad. The first rally will be organized on 2nd September in Islamabad. Senator Hasil Bezinjo, central leader of National Party (...)

• Floods and Debt: Pakistan under a double penalty

  
  by Damien Millet, Sophie Perchellet, Éric Toussaint

  27 August 2010

  Because of torrential rains lasting several days Pakistan is facing one of the worst predicaments in human and material terms for the last 80 years. The damage inflicted is stunning. About 22 million people are affected by the floods. Many infrastructures have been unable to withstand the onslaught of rain. Roads and harbours can no longer be used. Millions of people have had to leave their houses, and the UN estimates that there are 5 million left homeless. Makeshift refugee camps have (...)

• Pakistan: Multi Party Conference against debt repayments

  by Farooq Tariq

  27 August 2010

  Labour Relief Campaign has called a multi party conference on Sunday 29th August in Lahore. The conference will discuss the issue of repayments of the debts and post flood scenario. The conference will take place at Hotel Ambassador Lahore and will start at 2pm. Over 30 political parties’ trade unions and social movements are being invited to present their views. The calling of the conference is part of the campaign for non payments of the foreign debts. The strategies adopted by the (...)

• ’Flood-hit Pakistan has the right to repudiate external debt’

  by Adnan Farooq, Abdul Khaliq

  27 August 2010

  By ’state of necessity’ we mean a situation that jeopardizes the existence of a state. A natural calamity creates this state. Pakistan is passing through this state and has the just right to deny repaying its debts owed to IFIs, countries and clubs. Pakistan must refuse debt servicing on external debt. In view of the devastation caused by floods, Pakistan has legal right to repudiate debt,’ says Khaliq Shah. He is Focal Person of Committee for Abolition of Third World Debt (CADTM), Pakistan (...)

• Declaration

  Argentina. Ten Years After the Olmos Judicial Ruling on the Illegitimacy of the Debt: Audit or Keep Paying?

  15 July 2010

  Ten years ago today, July 13, 2000, Argentine Federal Judge Jorge Ballestero ruled on the illegality, illicitness, and fraud of the public debt contracted by the military dictatorship between 1976 and 1983, in the case to which journalist Alejandro Olmos devoted the last 18 years of his life. This ruling condemned the illicit maneouvers and crimes commited in the process of indebting Argentina and it was remitted to the National Congress for its respective treatment according to (...)

• III Jubilee South/Americas Regional Assembly

  Managua Declaration. “Towards Debt Reparations and the Building of Alternatives"

  by Jubileo Sur Americas

  30 June 2010

  Celebrating our Jubilee South / Americas III Regional Assembly, representatives of social movements, grassroots organizations, religious, environmental, professional, political, sexual diversity organizations, and anti-debt coalitions from 10 Latin American and Caribbean countries gathered in Managua, Nicaragua, from June 16 to 18, 2010. We are women and men, peasants, workers, indigenous, popular activists confronting and resisting the advance of capital over our territories, cultures, and (...)

• Haiti : a Creditor, Not a Debtor

  by Naomi Klein

  7 March 2010

  If we are to believe the G-7 finance ministers, Haiti is on its way to getting something it has deserved for a very long time: full "forgiveness" of its foreign debt. In Port-au-Prince, Haitian economist Camille Chalmers has been watching these developments with cautious optimism. Debt cancellation is a good start, he told Al Jazeera English, but "It’s time to go much further. We have to talk about reparations and restitution for the devastating consequences of debt." In this telling, the (...)

• Haiti: Grants to repay an odious debt ?

  
  by Sophie Perchellet, Éric Toussaint

  18 January 2010

  There is a great risk that one of the largest relief operations in history will be similar in nature to the tsunami relief efforts in 2004, unless a radically different approach to a reconstruction model is adopted. Haiti was partially destroyed by an earthquake measuring 7 on the Richter scale. We have all shed tears and the media, as they bombard us with apocalyptic images, report on financial pledges generous States have made. We know that Haiti needs to be rebuilt, this country (...)

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