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How Britain stole $45 trillion from India
31 December 2018 - by Jason Hickel
There is a story that is commonly told in Britain that the colonisation of India - as horrible as it may have been - was not of any major economic benefit to Britain itself. If anything, the administration of India was a cost to Britain. So the (...) -
G20 Summit in Buenos Aires: A non-event amidst citizen protests
22 December 2018 - by María José Romero, Bodo Ellmers, Tove Maria Ryding
When the global financial crisis broke, the world looked to the G20 to find solutions. But as G20 leaders recently gathered in Buenos Aires 10 years on for their 2018 Summit, it was all too clear that ‘too big to fail banks’ have grown even bigger (...) -
China’s Corporate Debt: On the Way to Crisis? Part 1
An Overview of Chinese Debt
20 December 2018 - by Alice Jetin Duceux
Are Chinese corporations overleveraged? Since the central government injected massive sums of money in the economy as part of a stimulus plan to fight the Great Recession, debt levels in the Chinese economy have skyrocketed. See the second (...) -
Nicaragua: New attacks against democratic freedoms
19 December 2018 - by Collectif
The 12th December, in continuation of the policy of suppression of any criticism against the Ortega-Murillo government, a majority of members of the National Assembly of Nicaragua voted the withdrawal of the legal personality of the CENIDH (...) -
South Africa searches for a financial parachute, now that a $170 billion foreign debt cliff looms
18 December 2018 - by Patrick Bond
Johannesburg – This week’s hush-hush visit by International Monetary Fund Managing Director Christine Lagarde to Pretoria (between stops in Ghana and Angola) is mysterious. In contrast to last week’s IMF press briefing claim – “Madame Lagarde will (...) -
Big Shift Global coalition reacts to the World Bank Group’s post-2020 climate goals announcement
5 December 2018 - by Big Shift Global coalition
On Monday, the World Bank Group released a new set of climate targets for 2021-2025, through which it aims to provide and mobilize $200 billion in support of countries’ climate action over this period. According to the Bank’s press release, it (...) -
Is Pakistan on the way to living without the IMF?
1 December 2018 - by Abdul Khaliq
Pakistan is perhaps the only country in South Asia with a history of repeated engagements with the IMF – 21 loan agreements since 1959. The last one was concluded in September 2016. Despite that, Pakistan’s economic woes have not been resolved. (...) -
Argentina: More lending guarantees creeping austerity
16 November 2018 - by Gino Brunswijck
Against a backdrop of public protests, on 25 October the Argentinian government approved the 2019 budget including US$10 billion worth of cuts in essential areas such as education and public works. The next day, the Executive Board of the (...) -
Forced marriage between Argentina and the IMF turns into a fiasco
9 November 2018 - by Jérôme Duval
While the discontent of the Argentine people grows day by day, President Mauricio Macri flees to the United States. In New York, he continues negotiations with the IMF to revise the already outdated agreement signed in June, intervenes in the UN (...) -
‘Outrageous’ Mozambique debt deal could make 270% profit for speculators
8 November 2018 - by Tim Jones
People of Mozambique to pay $1.7 billion to $2.2 billion on original loan of $760 million, which was not agreed by Mozambique parliament, and which has been of no benefit The government of Mozambique has announced it has reached an agreement (...) -
Nicaragua: From 2007 to 2018, Daniel Ortega Had the Support of the IMF and Conducted Policies Favourable to Big National and International Capital
5 November 2018 - by Eric Toussaint
The principal detonator of the protests that began in April 2018 in Nicaragua was the imposition by Daniel Ortega’s government of neoliberal measures that impacted social protection, and in particular retirements. These measures were the result (...) -
Philippines: The Marcos debt
5 November 2018 - by Eduardo C. Tadem
Another compelling argument against the “hero’s burial” for Ferdinand Marcos was his corruption-ridden mismanagement of the country’s debt. At the height of martial law in 1977, he issued Presidential Decree 1177 mandating the automatic (...) -
Chinese geopolitics: continuities, inflections, uncertainties
30 October 2018 - by Pierre Rousset
For Beijing, the era in which the European powers shaped the world was only a parenthesis before the story returns to its “normal”, Sinocentric course. China has become the second world power. Chinese geopolitics, however, has entered a phase of (...) -
Argentina in turmoil
24 October 2018 - by Jérôme Duval
After Argentine President Mauricio Macri announced, on 3rd September, a brutal austerity plan under IMF supervision, the people hit the streets to express their anger at rising prices and budget cuts. Seventeen years after the 2001 crisis in (...) -
Ukraine: Between a rock and IMF conditionality
16 October 2018 - by Bretton Woods Project
Alarm bells ring about Ukraine’s ability to meet IMF conditionality UN expert criticises IMF anti-corruption privatisation push In September, IMF staff visited Ukraine to discuss the next tranche of its $17.5 billion loan programme, first (...) -
A critical look at China’s One Belt, One Road initiative
10 October 2018 - by Martin Hart-Landsberg
China’s growth rate remains impressive, even if on the decline. The country’s continuing economic gains owe much to the Chinese state’s (1) still considerable ability to direct the activity of critical economic enterprises and sectors such as (...) -
The IMF and World Bank: Aiding and abetting inequality in Asia
10 October 2018 - by APMDD - Asian Peoples’ Movement on Debt and Development
Despite economic growth, inequality in Asia deepens Fiscal neoliberalism imposed by IFIs continues to exacerbate inequality Civil society renews calls to hold World Bank and IMF to account for their actions Asia continues to draw attention as (...) -
African governments’ debt payments double in just two years
8 October 2018 - by Jubilee Debt Campaign
• Debt problems on the African continent are increasing, with external government debt payments doubling in two years • The private sector is the largest source of loans, accounting for 32% of debt owed and 55% of interest payments • China (...) -
Sri Lanka: Does microfinance really empower women?
2 October 2018 - by Cat’s Eye
As women were deemed to be thrifty, able to manage with meagre resources and responsible borrowers, they became the targets for such predatory lending. We are witnessing large protests across the war-torn regions in the north and east, urging (...) -
Microfinance: Does it empower women?
18 September 2018 - by Independent collective of feminists
We are witnessing large protests across the war-torn regions in the north and east, urging the Government to restrict the activities of microfinance companies offering loans to poor women at exorbitantly high interest rates. Women’s groups in (...) -
China to take over Zambian international Airport for debt repayment default; neocolonialism?
11 September 2018 - by Richard Krah
Signing a contract with China is like, ascribing to the boiling frog effect; a fable describing a frog being boiled alive slowly. If you drop a frog suddenly into boiling water, it will jump out, but if you put that same frog in a vessel of (...) -
National Dialogue on Kenyan Debts Must be Preceded by Citizen’s Debt Audit
10 September 2018 - by David Calleb Otieno
The Kenyan Peasants League (KPL) in collaboration with the Kenyan Social Movements for Abolition of Illegitimate Debts welcome the announcement by National Super Alliance (NASA) leaders Raila Odinga and Kalonzo Musyoka calling for a national (...) -
The politics of quantitative easing and the increasingly negative consequences they have on developing countries
20 August 2018 - by Myriam Vander Stichele
QE programs were implemented by the central banks to stimulate the Western economies after the financial crisis of 2008. Central banks bought bonds with newly created money that was earmarked for circulation among the banks and financial (...) -
A Brief History of the Relations between the World Bank, the IMF, the US Government and Nicaragua
14 August 2018 - by Eric Toussaint
Central America is considered by the US government as part of its own exclusive sphere of influence. The policies adopted by the World Bank in terms of granting loans to the countries of the region are directly influenced by the political (...) -
Sri Lanka: Debt Trap and Mega Development
14 August 2018 - by Ahilan Kadirgamar
Sri Lanka’s foreign debt is again talk of the town. Is the country overly indebted to China? Are we borrowing too much from international capital markets? Or are we financing ourselves into trouble with multi-lateral agencies like the (...)
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