South
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Pakistan : Regime Change, Political Turmoil and Deepening Debt Crisis
3 May 2022 - by Abdul Khaliq
Pakistan has plunged into a major political crisis after the removal of Prime Minister Imran Khan on 10 April 22, through a successful no-confidence motion against the PTI govt. The month-long political crisis began on 8 March when the country’s (...) -
The Argentinian (2001) and Sri Lankan (2022) Financial Crises: Ways Forward from a Feminist Perspective
27 April 2022 - by Corina Rodriguez
In response to Sri Lanka’s ongoing economic crisis, and the consensus across the political spectrum and even social classes that an International Monetary Fund (IMF) bail-out and structural adjustment programme is the only short-to-medium term (...) -
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 (...) -
Sri Lanka: No agreement with the IMF!
15 April 2022 - by Eric Toussaint, Sushovan Dhar
A Sri Lankan delegation will travel to Washington next week to try to secure up to $4 billion from the International Monetary Fund and other lenders to help the island nation pay for food and fuel imports as well as stem defaults on its debt. (...) -
Conclusion of Sankara and Companions Case : A Salutary Trial. But the demands for truth continue
9 April 2022 - by Réseau International « Justice pour Sankara justice pour l’Afrique »
A historic trial has been concluded. It is with great satisfaction that we learn of the life sentences given to Blaise Compaoré, Gilbert Diendéré and Hyancinthe Kafando. Such an outcome was never sure. But if the essence of the national conspiracy (...) -
Argentine civil society denounces new IMF agreement as illegitimate
9 April 2022 - by Bretton Woods Project
As reported by Al Jazeera, the Argentine Senate voted on 18 March to proceed with a 30-month Extended Fund Facility (EFF) arrangement of $45 billion or 1000 per cent of the country’s quota. The programme was agreed upon days ahead of a payment of (...) -
Two hectic weeks in Argentina, against the agreement with the IMF
31 March 2022 - by Eric Toussaint
It has to be noted that in March 2022 the political and social life in Argentina was largely polarized by acceptance or rejection of the 22nd agreement between Argentina and the International Monetary Funds. A little background: Relations (...) -
Averting the Looming Food Crisis
27 March 2022 - by Sandun Thududgala
A food crisis is inevitable. Food prices are soaring; shortages in essential food items are creating long queues, affecting people’s ability to work and get on with productive lives; the foreign reserve crisis has restricted the country’s ability (...) -
Submission to the Independent Expert on Foreign Debt and Human Rights
7 March 2022 - by CADTM Pakistan, Collective
This submission to the Independent Expert on Foreign Debt and Human Rights comes at a crucial juncture in Pakistan’s socio-political and economic history. In 2018 after the general elections no single party could gain an overall parliamentary (...) -
Rethinking alternatives to counter the surge of debts to be repaid
22 February 2022 - by Eric Toussaint
The Financial Times notes that “poorest countries face $11 bn surge in debt repayments” in 2022 while the World Bank warns against “disorderly defaults.” [1]. Poorest countries face $11 bn surge in debt repayments in 2022 Some 74 low- and (...) -
CADTM Africa Statement on ECOWAS and UEMOA sanctions against Mali
7 February 2022 - by CADTM Africa
After their high level meeting held in Accra, Ghana, on Sunday 9 January 2022, the Heads of State of the Economic Community of West African States (ECOWAS) hardened the tone against Mali. However, for the Malian government, as well as for many (...) -
How the Exploitation of Africa Helps Fuel Global Capitalism
8 January 2022 - by Chris Dite, Maha Ben Gadha
The political and economic crises roiling countries like Sudan and Tunisia right now cannot be separated from the global institutions of capital and the cycles of indebtedness that they impose. The political and economic crises in Sudan, (...) -
Latin America
Report on Latin America and the Caribbean (LAC) for the CADTM World Assembly, Dakar, 13 -16 November 2021
23 December 2021 - by CADTM AYNA
Synthesis based on the responses received on the following questionnaire, from Argentina, Brazil, Colombia, Haiti, Uruguay and Venezuela. The most important element in the political, economic and social situation in Latin America and the (...) -
Das Kapital’s Unfortunate Fate, in South African Left Scholarship and Political Strategy
17 December 2021 - by Patrick Bond
Abstract: One of the great paradoxes in what has been for the last half-century amongst the world’s most intense sites of class struggle, South Africa, is how few anti-capitalist activists and scholars are familiar with the main book explaining (...) -
The Moroccan energy sector: A permanent dependence
7 December 2021 - by Jawad Moustakbal
Although Morocco gained its independence in 1956, the country’s energy sector has remained dependent – on fossil fuels and on the private sector. Over the period 2017–2020 fossil fuel imports accounted for around 90 per cent of total primary energy (...) -
Can South Africa urgently evolve, from victim-globalisation to passive-deglobalisation to active-localisation?
29 November 2021 - by Patrick Bond
Capitalism is necessarily recalibrating its scale in various places, and perhaps nowhere are national stakes higher than South Africa, where the November 24th discovery of a new, more virulent, multiply-mutated Covid-10 variant – Omicron – (...) -
Pakistan in a perfect debt spiral with the worst impacts of the pandemic
24 November 2021 - by Abdul Khaliq
Pakistan is one of the 52 countries facing severe debt crisis. The most critical problem faced by the country’s economy is repayment and servicing of external debt. Persistent borrowing creates a spiral with more borrowing generating an impending (...) -
G20 initiative leads to less than a quarter of debt payments being suspended
14 October 2021 - by Jubilee Debt Campaign
Lower income countries which applied for scheme have spent $36.4 billion on external debt payments during the pandemic, and had just $10.9 billion suspended or cancelled. Private creditors received the largest amount of debt payments, $14.9 (...) -
China at a turning point?
6 October 2021 - by Michael Roberts
The debt problems afflicting China’s real estate market deepened this week after another property developer defaulted on its bonds and [the world’s most heavily indebted property group Evergrande->https://thenextrecession.wordpress.com/2021/09/19/not-s -
[Video] What solutions for the countries of the South crushed by the burden of the debt ?
20 September 2021 - by Iolanda Fresnillo, Omar Aziki, Ndongo Samba Sylla, Juan Pablo Bohoslavsky, Anaïs Carton
CADTM Summer University 2021: Global Crisis, Debt Cancellation for Social Justice! Thursday 16 September, 6.30-8.30 p.m. - What solutions for the countries of the South crushed by the burden of the debt? With Juan Pablo Bohoslavsky (...) -
The IMF’s announcement of $650 billion in Special Drawing Rights: advertising effect
8 September 2021 - by CADTM, Eric Toussaint, Milan Rivié
Milan Rivié and Éric Toussaint interviewed by the CADTM CADTM: In late August 2021 the IMF announced that it would supply the global economy with US$650 billion to meet urgent needs. This would be achieved through an increase in Special Drawing (...) -
The US Lost in Afghanistan. But US Imperialism Isn’t Going Anywhere
7 September 2021 - by Gilbert Achcar
The United States suffered grave losses in Iraq and Afghanistan, just as it did in Vietnam. But we shouldn’t mistake revisions of US military strategy after calamitous failures for a turn away from US imperialist ambitions. The debacle of the (...) -
BRICS New Development Bank Corruption in South Africa
5 September 2021 - by Patrick Bond
1. Introduction: Raised – and dashed – expectations for the BRICS replacing Western banking In 2013 in Durban, at the heads-of-state summit of the Brazil-Russia-India-China-South Africa (BRICS) bloc, a New Development Bank (NDB) and Contingent (...) -
Earthquakes, storms and colonial debt: The need for debt relief in Haiti
1 September 2021 - by Tess Woolfenden
The Caribbean country of Haiti was hit by a devastating earthquake in which 250,000 lives were lost and 1.5 million were displaced. Just like many other countries in the Caribbean and around the world, Haiti’s crushing debts are hampering its (...) -
China’s role in amplifying Southern Africa’s extreme uneven development
30 June 2021 - by Patrick Bond
Like so many regions of the world, the 14 ‘Southern African Development Community’ countries are grappling with the complex problem of Chinese state and corporate involvement in divergent societies, politics, economies and ecologies. There is (...)
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