South
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The Global South Needs More Than Just Debt Relief
10 July 2020 - by Benjamin Lemoine, Quentin Deforge
The G20’s plans to postpone 76 emerging countries’ debt repayments are a band-aid on fundamental injustices in the global economy. Rebuilding the Global South after the pandemic will require a complete upending of the international order — and the defending states’ sovereignty rather than financial (...) -
Publicity stunt, lies and omission on African debt, Macron bets on the Paris Club
7 July 2020 - by Milan Rivié
On 13th and 15th April 2020, French President Emmanuel Macron drew the world’s attention by calling for a “massive cancellation” of Africa’s debt. A few hours later, the G20 disavowed it by decreeing a suspension of payments of the poorest countries’ bilateral public external debts. The “failure” of (...) -
How Foreign Debt Undermines Sovereignty: The case of the Global South
1 July 2020 - by Ndongo Samba Sylla
“There is nothing a nation should avoid as much as borrowing money abroad.” So confided Ulysses Grant to Emperor Meiji during his visit to Japan in August of 1879. After giving several examples of nations then enslaved by foreign currency-denominated debt, the eighteenth American president (...) -
Belgium’s colonial crimes in the Congo. A duty to remember
17 June 2020 - by Eric Toussaint
Thanks to the Black Lives Matter mobilizations against racism in general, and racism against black people in particular, becoming an international phenomenon more and more people are seeking to know the truth about the dark past of the colonial powers and the continuation of neo-colonialism up (...) -
The South Korean miracle is exposed
15 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 (...) -
South African should be wary about long term repercussions of new IMF loans
5 June 2020 - by Patrick Bond
Amidst this raging debate about the role of IMF loans to pull out countries from the economic mess triggered by the outbreak of the pandemic, Patrick Bond, professor at the University of the Western Cape School of Government in an interview to Radio Islam International warns us about the (...) -
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 (...) -
A project against militarist Europe
2 June 2020 - by Nathan Legrand, ReCommons Europe
The role of militarism, arms trade and wars in Europe`s foreign policy This document is a longer version of the fourth of the five texts that form part of the publication entitled “The impact on the South of European financial policies and development cooperation strategies and possible (...) -
Voluntary Termination of Debt
18 May 2020 - by Verónica Gago, Luci Cavallero
The feminist movement in Argentina, and across Latin America, has gained force and strength in recent years. That movement can be characterized not only by its massiveness in terms of the number of people on the streets, but also for how it has opened up debates and circulated concepts and (...) -
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 (...) -
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 (...) -
Should South Africa Follow the Law of the Jungle – or the Doctrine of Odious Debt?
30 April 2020 - by Patrick Bond
South Africa’s fierce debates over the costs and benefits of a proposed International Monetary Fund (IMF) bail out of $4.2 billion unveil the country’s massive weaknesses and potential strengths, at a time food protests have moved from the slums of Cape Town to the Johannesburg Central Business (...) -
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 (...) -
Class Struggle, Environment and the Corona Virus Pandemic
22 April 2020 - by Kunal Chattopadhyay
The Corona virus threat has been declared a pandemic by the World Health Organisation. How not to respond to it from the left is easily seen, by apparently leftist posts circulating in social media (Facebook, WhatsApp, Twitter), which suddenly wake up to how many people die because of hunger, (...) -
Franck Gaudichaud: “Look at Chile to understand the kind of world they want us to live in”
22 April 2020 - by Jérôme Duval, Franck Gaudichaud
Franck Gaudichaud* returned a few weeks ago from a stay in Chile and gave us an interview to talk about more than six months of social unrest that shook the country. The Chilean uprising began in October 2019 and spread like wildfire in the student movement after the Piñera government’s (...) -
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 the global south. Part 3 highlights the degree of (...) -
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 crisis and its cascading economic consequences could (...) -
The World Bank and the Philippines
17 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 (...) -
SAAPE Call for Rapid Response from the South Asian Governments to Fight the COVID19 Crisis and to build unitedly long-term public health care for South Asians
12 April 2020 - by Collective
SAAPE is concerned about the great danger that COVID-19 pandemic poses in South Asia. The pandemic has already made the lives of the people miserable and woeful. The world is entering in a new phase of history. The pandemic has exposed the ugly face of the neoliberalism which has miserably (...) -
CSOs Call to International Creditors of Bangladesh
10 April 2020 - by Collective
We the following Civil Society Organizations (CSOs) from all over the world, are calling on the World Bank (WB), International Monetary Fund (IMF), Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB) and all bilateral, regional and multilateral development financiers of (...) -
Into the Great Economic Abyss
7 April 2020 - by Ahilan Kadirgamar
Societies across the world are facing tremendous challenges. And on March 31, 2020, United Nations Secretary-General Antonio Guterres described the situation as follows: “We are facing a global health crisis unlike any in the 75-year history of the United Nations — one that is killing people, (...) -
The African Continental Free Trade Area: What Kind of Pan-Africanism?
6 April 2020 - by Jean Nanga
In Kigali, Rwanda, on March 21, 2018, five years after the 50th anniversary of the creation of the Organisation of African Unity (OAU)/African Union (AU) – considered in the Newspeak of the AU as “fifty years of success” – 44 of the AU’s 55 member states signed the Agreement concerning the Creation (...) -
COVID-19 pandemic: Statement by the Southern African People’s Solidarity Network (SAPSN)
5 April 2020 - by Collective
The COVID-19 pandemic poses a great danger to the SADC region. If the spread of the virus is not urgently arrested and is allowed to spread to high-density areas, slums, refugee camps and other centres of impoverishment, Southern Africa will face a health, economic and social disaster on a (...) -
Call of the indigenous peoples, afro-descendants and peoples’ organizations of Latin America
3 April 2020 - by CADTM, Collective
We publish in English a Latin American and Caribbean appeal launched on 1 April 2020 by a large number of popular movements and political organizations. It calls for a radical response to the crisis linked to COVID-19. This call is supported by the CADTM of Latin America and the Caribbean (...)
CADTM
COMMITTEE FOR THE ABOLITION OF ILLEGITIMATE DEBT
35 rue Fabry
4000 - Liège- Belgique
00324 226 62 85
info@cadtm.org
