Odious debt

• Hook: Egypt debt repayments to UK and other Western governments, 29 June

  Egypt pays $650m ‘dictator debt’ to West

  by Jubilee Debt Campaign

  28 June 2012

  Campaign groups in London and Paris will protest the ongoing repayments Egypt is making to the UK and France on the basis of ‘dictator debts’ run up under the regime of Hosni Mubarak. Egypt is expected to pay around $650 million to the Paris Club of Western creditors on 29 June, just part of this year’s expected $3 billion repayments on interest and debt stock. As Egypt’s new President takes office, social justice group Jubilee Debt Campaign is calling for an immediate moratorium on Egypt’s (...)

• The Popular Campaign to Drop Egypt’s Debt Call to European national MPs and MEPs: To demand from the Egyptian government an audit of Egypt’s debts to EU countries through an independent committee

  6 June 2012

  Preamble The end of the Mubarak dictatorship left Egypt with a heavy legacy of failed economic policies and a misshaped sovereign debt management with projects not necessarily benefiting the vast majority of the Egyptian population. Today, Egypt bears the burden of a public external debt amounting to $35 billion consuming - together with public internal debt - 2/5th of the national budget. In 2011, debt service amounted to more than government expenditure on health, education and housing (...)

• Video

  Tunisia: The yezzina meddyoun (stop the debt) campaign

  by Collectif ACET

  26 May 2012

  To get the english subtitles choose ENGLISH on the red CC button in the bottom part of the screen on the right side.

• Video

  Debt : The Greeks and Debtocracy

  by Aldous

  18 March 2012

  A documentary film entitled Debtocracy – Chréokratia (Chréos is the Greek word meaning “debt”) has become wildly popular in Greece since that country has been systematically drained while in the clutches of the IMF. Here is a translation of the film which explains the mechanisms for subjugating a country by what economists call “Odious Debt”.

• Debt, Dictatorship, and Democratization

  by Robert Howse, Ruti Teitel

  20 April 2011

  NEW YORK – After Saddam Hussein’s fall, the United States successfully pressed creditors to write off much of Iraq’s external debt. Senior American officials, including Paul Wolfowitz, later President of the World Bank, argued that the Iraqi people should not be saddled with obligations that the dictator contracted in order to enrich himself and oppress his subjects. Citing a long-standing doctrine in international law, advocates of a write-off claimed that Iraq’s debt was “odious.” As a (...)

• Before and after the quake

  The incapacitation of Haiti

  by Ashley Smith

  17 January 2010

  A devastating earthquake, the worst in 200 years, struck Port-au-Prince on Tuesday, laying waste to the city and killing untold numbers of people. The quake measured 7.0 on the Richter scale, and detonated more than 30 aftershocks, all more than 4.5 in magnitude, through the night and into Wednesday morning. The earthquake toppled poorly constructed houses, hotels, hospitals and even the capital city’s main political buildings, including the presidential palace. The collapse of so many (...)

• Seminar on the topic of “Rising Debt of Pakistan and Role of IFIs” in Lahore on 14 Oct 09

  Reckless borrowing from IMF-a perfect recipe of disaster

  
  by Abdul Khaliq

  29 October 2009

  Speakers at CADTM seminar urge Pakistan to refuse payment of odious debt In connection with Global week of Action (12-18 Oct 09) against debts, Campaign for Abolition of Third World Debt (CADTM) Pakistan and Action Aid Pakistan jointly organized a seminar on the topic of “Rising Debt of Pakistan and Role of IFIs” in Lahore on 14 Oct 09 at local press club. Over 70 representatives of various civil society organizations and groups, activists, academics, students, lawyers and journalists (...)

• Experts on Zimbabwe’s external debt

  by Simbiso Marimbe Marasha

  9 July 2009

  Stakeholders met last week in Harare to discuss Zimbabwe’s external debt, which threatens the welfare of its citizens who have been ravaged by a deep social, economic and political crisis. The Zimbabwe Coalition on Debt and Development (Zimcodd), a coalition of institutions and individuals focusing on social and economic justice, convened the meeting under the theme "The Economy in Transition Dialogue Conference: Towards a Sustainable Public Debt for Zimbabwe". The main objective of this (...)

• International Campaign on Illegitimate Debt

  Resolution of support for Ecuadorian Debt Audit

  19 September 2008

  The undersigned participants in the First South-North Study and Strategy Meeting of the International Campaign on Illegitimate Debt, representing 50 global and regional networks and organizations from 36 countries from throughout the world, meeting in Quito, Ecuador, on September 9 – 15, 2008, CONSIDERING 1.That the people of Ecuador have been demanding that their government fulfill its right and obligation to take necessary measures in the face of the debt claimed illegitimately of their (...)

• Topicality of the odious debt doctrine

  
  by CADTM international

  8 August 2008

  The odious debt doctrine is not dead and buried, whatever some would like to believe. The US stampede retreat on Irak’s odious debt in 2003, and more recently a WB report that vainly attempted to question its validity both show how significant a stake it is for both debtors and creditors. The present document aims at reopening the debate on odious debts, and more generally on illegitimate debts, so that governments can use these legal arguments to stop paying undue debts. 1. The doctrine (...)

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