South
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Ecuador: From Rafael Correa to Guillermo Lasso via Lenin Moreno
14 April 2021 - by Eric Toussaint
On 11 April 2021, Guillermo Lasso (52,4%), the right-wing candidate, defeated Andres Arauz, the candidate supported by Rafael Correa and part of the Left, by 52.4% vs 47.6% in the second round of ballots for the presidential election. Lasso was (...) -
Série : Ecuador: Progress and limits of resistance to the policies of the World Bank, the IMF and other creditors
Ecuador’s poisoned loans from the World Bank and the IMF
31 March 2021 - by Eric Toussaint
Ecuador provides an example of a government which officially decided to investigate the process of indebtedness so as to identify illegitimate debt and suspend its repayment. The fact that the government suspended payment of a large part of its (...) -
Sri Lanka’s household debt and the pound of flesh
15 March 2021 - by Amali Wedagedara
The complexity of the agrarian debt problem and the attractiveness of the idea of debt abolition made the cancellation of microfinance debt a popular campaign slogan during the Sri Lankan presidential election in November 2019. Women affected by (...) -
India: Proposals against new attempts to privatise state-owned banks
11 March 2021 - by Eric Toussaint, Sushovan Dhar
Public sector banks account for more than two-thirds of the banking market in India. Currently, they are subjected to a systematic smear campaign launched by the reactionary Narendra Modi government, big media including the international press (...) -
On the ‘Arab Inequality Puzzle’: The Case of Egypt
8 March 2021 - by Gilbert Achcar
This article elaborates on a keynote lecture delivered at a conference on inequalities in the Arab region held on 13–14 September 2018 at the American University of Beirut (AUB) to mark the launch of the Arabic translation of the 2016 World (...) -
Version 2.0: A new debt trap from the South to the North
The external debt of Developing Countries: a Timebomb
22 February 2021 - by Eric Toussaint, Milan Rivié
In the first part, we saw that the external indebtedness of developing countries (DC) went through two stages from 2000 to 2019. From 2000 to 2007-2008, the debt stagnated or increased moderately in parallel to negative net transfers. From 2008 (...) -
Neoliberal Authoritarianism in Egypt
11 February 2021 - by Yanis Iqbal
The whiplash of authoritarianism is being ruthlessly used in Egypt. On January 6, 2021, Ahmed Khalifa, social news editor of Egypt 360 after publishing a series of reports on workers’ legitimate protests. He was falsely charged with joining a (...) -
Ecuador: Historic urban vote against large scale mining in referendum
8 February 2021 - by Miriam Lang
Ecuador’s third largest city Cuenca, of more than 600.000 inhabitants, has voted clearly against large-scale mining on February 7th, 2021. According to estimates published on Sunday night, 80% of voters have expressed themselves for water and (...) -
Stand with Africans to Cancel the debt!
5 February 2021 - by CADTM Africa , Womin
Debt cannot be repaid, first because if we don’t repay, lenders will not die. That is for sure. But if we repay, we are going to die. That is also for sure. Thomas Sankara, 1987 African movements unify to campaign for the cancellation of (...) -
South Africa: Vaccine Apartheid or Equality?
30 January 2021 - by Rehad Desai, South African Federation of Trade Unions
We are in the middle of a global shortage of supplies of COVID-19 vaccines. We are reliving the saga that happened early in the pandemic around access to personal protective equipment (PPE), where each country fought for its own patch. Getting (...) -
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 (...) -
Dam debt: Understanding the dynamics of Suriname’s debt crisis
22 January 2021 - by Eurodad, Daniel Munevar
In November 2020, Suriname joined ranks with Zambia, becoming the second country to default on its sovereign debt in the aftermath of Covid-19. In this briefing, we explore the origins of Suriname’s debt crisis and highlights the substantial (...) -
Version 2.0: The North’s New Debt Trap for the South
Evolution of the external debt of developing countries between 2000 and 2019
19 January 2021 - by Eric Toussaint, Milan Rivié
An update of the three part series “A new trap of indebtedness of the South to the North” published in September-October 2020. At the end of the 1990s and the early years of the new millennium, developing countries (DC) were emerging from an (...) -
In memory of Patrice Lumumba, assassinated on 17 January 1961
17 January 2021 - by Eric Toussaint
On 17 January 2021, we commemorate the 60th anniversary of the assassination of Patrice Lumumba (1925-1961). After a resounding victory in the first real elections in which the Congolese participated, Patrice Lumumba became Prime Minister of (...) -
Western Imperialism and the Role of Sub-imperialism in the Global South
13 January 2021 - by Patrick Bond, Ana Garcia, Miguel Borba
AT FIRST BLUSH, JOE BIDEN’S ELECTION as U.S. president brings respite from a world threatened by Donald Trump’s climate-denialist, dictator-coddling, xenophobic, racist, misogynist, rules-breaking regime. On second thought, 2021 will also initiate (...) -
India: Long march to peasant unity
4 January 2021 - by Ranjini Basu
The unprecedented unity among peasant organisations is not a sudden development. It has been built over several struggles, which have expanded the base of the peasant and snowballed into the massive protests against the new farm laws. The (...) -
How pension funds shape financialisation in emerging economies in Colombia and Peru
17 December 2020 - by Bruno Bonizzi, Jennifer Churchill, Diego Guevara
In early spring 2020 emerging economies (EEs) were hit by the largest ever episode of portfolio outflows. Stock and bonds were sold as investors flight to safer investments in Europe and the United States, showing once again the fragile nature (...) -
Deep and comprehensive dependency: How a trade agreement with the EU could devastate the Tunisian economy
9 December 2020 - by Hamza Hamouchene, Layla Riahi
Tunisia has undergone radical changes in the past decade, and faces more in the years to come, if the EU has its way. As the first country to topple its dictator in early 2011, it set off a chain of revolutions across North Africa and West Asia (...) -
Strengthening Agro-business Capitalism and Weakening Federalism
4 December 2020 - by Pritam Singh
India is currently rocked by farmer’s protest. Tens of thousands of farmers have surrounded India’s capital, New Delhi, where they intend to camp out for weeks to protest against the contentious new agricultural laws that could destroy their (...) -
A new trap of indebtedness of the South to the North - Part 3
Developing Countries caught in the vice-like grip of indebtedness
1 December 2020 - by Eric Toussaint, Milan Rivié
We continue our analysis of the present-day factors that contribute to the unsustainable nature of debt repayments demanded of the countries of the Global South. We shall examine the following topics: the downward evolution of commodity prices; (...) -
A new trap of indebtedness of the South to the North - Part 2
Threats over the external debt of Developing Countries
27 November 2020 - by Eric Toussaint, Milan Rivié
In the first part, we saw that the external indebtedness of developing countries (DC) went through two stages from 2000 to 2018. From 2000 to 2007-2008, the debt stagnated or increased moderately in parallel to negative net transfers. From 2008 (...) -
Haemorrhaging Zambia: Prequel to the Current Debt Crisis
25 November 2020 - by Andrew M. Fischer
Following a stand-off with commercial creditors and protracted but unresolved negotiations with the IMF, Zambia defaulted on its external sovereign debt on 13 November this year. While most commentary has focused exclusively on the government’s (...) -
Sri Lanka: An argument for cancelling the household debt
23 November 2020 - by Amali Wedagedara
Women affected by microloans in Sri Lanka have been mobilising for debt cancellation since a couple of years. The complexity of the agricultural debt problem and the attractiveness of the idea of debt abolition made it a popular campaign slogan (...) -
G20: the debt solution
22 November 2020 - by Michael Roberts
This weekend, the G20 leaders’ summit takes place – not physically of course, but by video link. Proudly hosted by Saudi Arabia, that bastion of democracy and civil rights, the G20 leaders are focusing on the impact on the world economy from the (...) -
Urgent debt relief needed as Pakistan faces perfect debt trap
12 November 2020 - by Abdul Khaliq
The indicators of a severe debt crisis were already present in Pakistan long before the Covid-19 crisis hit. Coordinated efforts by CSOs all round the world are needed to ensure that countries like Pakistan are not left alone dealing with its (...)
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COMMITTEE FOR THE ABOLITION OF ILLEGITIMATE DEBT
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