Illegitimate debt
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A sovereign State can refuse the transfer of debts that were contracted in times of subjection
23 June 2022 - by Anaïs Carton
The CADTM has devoted a series of articles to the collective book Sovereign Debt Diplomacies. Rethinking Sovereign Debt from Colonial Empires to Hegemony, Edited by Pierre Pénet and Juan Flores Zendejas. We provide here a summary of Chapter 9 (...) -
Mexico: Oaxaca Declaration against illegitimate debt (April 2022)
6 June 2022 - by National Promorora for the Suspension of Public Debt Repayment
Starting April 26, 2022, various activities were carried out in different parts of Mexico by the COMMITTEE FOR THE ABOLITION OF ILLEGITIMATE DEBT, in coordination with the NATIONAL PROMOTORA FOR THE SUSPENSION OF PUBLIC DEBT REPAYMENT, and the (...) -
Five theses developed in the book “The Debt System”
3 June 2022 - by Eric Toussaint, Martín Mosquera
Interview conducted by Martín Mosquera for the Latin-American magazine Jacobinlat]. Martín Mosquera (Jacobinlat) :Could you summarize some essential points from your book The Debt System: A History of Sovereign Debts and Their Repudiation? (...) -
Mexico: Payment of external debt must be suspended
25 May 2022 - by Benito Mirón Lince
Invited by the national Promotora for the cancellation of public debt, delegates from the international network of the Committee for the cancellation of illegitimate debts (CADTM), coming from Puerto Rico, Columbia, Uruguay and Argentina came to (...) -
Why should Ukraine’s debt be cancelled?
21 April 2022 - by Eric Toussaint, Sushovan Dhar
Sushovan Dhar: How much is the Ukrainian public debt and who are the main creditors? Eric Toussaint: Ukraine’s external debt, public and private, is about $130 billion, half of this debt is owed by the government, and the other half by the (...) -
How Private and Public Debt Crises Exacerbate Housing Problems in the EU
9 June 2021 - by Eric Toussaint, Eva Betavatzi
Abstract The increase in mortgage lending in European countries since the 1990s’ is symptomatic of a political determination to push households into buying rather than renting on the housing market. Banks benefit from this as it allows them not (...) -
Kenyan activists raise questions about debt...
29 January 2021 - by Kenya Debt Abolition Network
Report of Kenyan Debt Zoom Dialogue Held on 13 January 2021 at 2PM to 4PM 1.0 - INTRODUCTION/BACKGROUND On 13 January 2021 the Kenya Debt Abolition Network (KDAN) which is a social movement of Kenyan individual and organization whose (...) -
11 questions / 11 answers about the new global debt crisis and how it can be radically reduced
29 December 2020 - by Eric Toussaint, Olivier Bonfond, Mats Lucia Bayer
Introduction: The current crisis is the most severe since 1929. It is a multi-dimensional crisis of capitalism as it affects simultaneously democracy, health, the economy, climate, environment and social rights. The current health crisis (...) -
CADTM - 30 years of struggle against debt
16 November 2020 - by CADTM, Chris Den Hond
CADTM - Committee for the Cancellation of Illegitimate Debt = 30 years of struggle against debt Badly impacted by COVID-19, our meeting days largely took place online, with activists contributing from countries such as DRCongo, Morocco, Sri (...) -
Unleashing the power of pension funds and debt cancellation to finance a just energy transition
25 August 2020 - by Dominic Brown
“Debt cannot be repaid, first because if we don’t repay, the lenders won’t die. That is for sure. But if we repay, we are going to die. That is also for sure.” Those were the words of the revolutionary former president of Burkina Faso, Thomas (...) -
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 (...) -
A Feminist Strike against Debt
18 May 2020 - by Verónica Gago, Luci Cavallero
Recently, the transnational feminist movement has taken up the struggle against debt as a banner of struggle as part of the dynamics of the feminist strike. Around the world we have said, “We want ourselves alive and debt free!” (Argentina), “It (...) -
The debt dilemma
11 May 2020 - by Michael Roberts
I have mentioned many times on this blog that rising global debt reduces the ability of capitalist economies to avoid slumps and find quick way to recover (and see ‘Debt Matters’ in my book, The Long Depression and also in World in Crisis). As (...) -
“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 (...) -
Covid-19 and debt in the global south: Protecting the most vulnerable in times of crisis III
20 April 2020 - by Daniel Munevar
This is the third part of a blog series covering the impact of Covid-19 on vulnerable countries in the global south. Part 1 analyses the impact of debt burdens on health services. Part 2 discusses how the economic crisis will affect countires in (...) -
Covid-19 on a debt assault
17 April 2020 - by Eric Toussaint, Christophe Koessler
The Committee for the Abolition of Illegitimate Debt (CADTM) is of the opinion that the limited resources of the countries of the South should be devoted to fight the pandemic rather than reimbursing international creditors. The coronavirus (...) -
Emergency financing for Low-Income Economies to tackle COVID-19: Cost estimates for the impact of the crisis and emergency financing requirements
2 April 2020 - by Daniel Munevar
This briefing is provided to inform development of policy responses to the COVID-19 crisis and in support of calls from wider civil society for debt cancellations for the world’s poorest countries in the face of the current crisis. The COVID-19 (...) -
COVID-19 and debt in the global south: Protecting the most vulnerable in times of crisis II
2 April 2020 - by Daniel Munevar
This is the second part of a blog series covering the impact of COVID-19 on vulnerable countries in the Global South. [Part 1] analyses the impact of debt burdens on health services. Part 2 discusses how the economic crisis will affect countires (...) -
The Coronavirus, public debt and life
30 March 2020 - by Lujan Miranda
Some questions for our initial reflection! What virus is this that causes so much dread, destruction and death? What system is this that causes so much insecurity, greed, destruction and death and allows a virus to panic and quarantine a large (...) -
Press release
Will Ecuador once again set an example of courage in the face of creditors?
24 March 2020 - by CADTM International
Will Ecuador once again set an example of courage in the face of creditors? On March 23, 2020, the National Assembly adopted by a majority vote a resolution calling for all State resources to be mobilized to combat the coronavirus pandemic. (...) -
COVID-19 and debt in the global south: Protecting the most vulnerable in times of crisis I
18 March 2020 - by Daniel Munevar
This is the first part of a blog series covering the impact of COVID-19 on vulnerable countries in the global south. Part 1 analyses the impact of debt burdens on health services. Part 2 discusses the channels different channels of economic (...) -
The CADTM supports the struggle of the Lebanese people to break away from social injustice and shake off the burden of illegitimate debt
10 March 2020 - by CADTM
As the Lebanese government suspends any payment of its external debt from 9 March 2020, the CADTM reasserts its support to the Lebanese people in a struggle that started in October 2019. Popular meetings and marches have been continuously (...) -
IMF: Inhuman at the micro and macro levels
27 February 2020 - by Eric Toussaint
Hiruni, a fisherman’s wife, who has to manage her household (of five people) with an income of about 2.5 euros (= 500 Sri Lankan rupees) per day, is heavily indebted. In order to increase her household income, she borrowed 50,000 rupees (250 (...) -
Can the IMF Be Trusted on Argentina?
21 February 2020 - by Eric Toussaint
After the IMF mission to Argentina agreed with President Fernandez that the foreign debt is unsustainable, international debt campaigner Eric Toussaint tells teleSUR that the Fund is not to be (...) -
Somalia should reject IMF & World Bank Debt Relief
17 February 2020 - by David Calleb Otieno
Last week, the World Bank and the International Monetary Fund (IMF) announced that the two institutions were moving closer to offering Somalia a debt relief of USD 5.3 billion translating to about KES530 billion under the Enhanced Heavily (...)
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