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External debt

The Case for the Complete Removal of IMF Surcharges: Historical Precedents and a Growing Burden

17 September 2024 - by Andrés Arauz, Ivana Vasic-Lalovic, Francisco Amsler

Abstract This paper argues for the elimination of the surcharge policy of the International Monetary Fund (IMF). It explores the legal history of surcharges and underscores that there are precedents (i.e., in 1974, 1981, and 1992) for their (...)
Economy and history

10 April 2024 - by Farooq Sulehria

“A key factor in fuelling institutional instability as much as perpetuating underdevelopment is that Pakistan’s rent-based institutional structure systematically constrains human potential,” claims Akmal Hussain in his latest book Pakistan, (...)
COP27

Isn’t the cancellation of Southern debt a solution to the climate crisis?

10 November 2022 - by Scandola Graziani

Financial compensation allows the countries of the South to finance their fight against global warming. But this makes their deficit deeper. At the time of the COP27, some of them insist on cancelling their debt. Sea level rise, wildfires, (...)
Submission to the Independent Expert on Foreign Debt and Human Rights

7 March 2022 - by Collective, CADTM Pakistan

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 (...)
Immediately cancel Mozambique and Southern Africa’s debt!

6 February 2022 - by CADTM

The CADTM stands in solidarity with the victims of the devastation caused by Tropical Storm Ana. Indeed, the storm brought winds, heavy rains, damage and destruction to parts of Madagascar, Mozambique, Malawi and Zimbabwe, affecting several (...)
Why Not Default: A Subaltern Perspective

2 February 2022 - by Sumanasiri Liyanage

Having read many opinions over the issue about what should be done with regard to the debt crisis in Sri Lanka, I think even a scary task of summarising the argument of a book of 384 pages in 1,000 to 1,200 words column would be a useful (...)
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, (...)
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 (...)
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 (...)
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 (...)
Kenya Should Ignore IMF Reform Package and Stop Repaying Debts

19 August 2018 - by David Calleb Otieno

The Kenyan Peasants League (KPL), a member of the La Via Campesina (LVC) is concerned about the reform package being pushed down the throat of Kenyan government by the International Monetary Fund (IMF) that is already having adverse impacts on (...)
“Stop Repaying Illegitimate Debt”

4 May 2018 - by Eric Toussaint, Amra Ismail

While in Colombo, Sri Lanka, for the 7th CADTM South Asia workshop in April, Éric Toussaint was interviewed by the Daily Mirror, a major Sri Lankan daily newspaper. He answered questions on illegitimate debts, China’s Belt and Road Initiative, (...)
Powering the Plunder: What Morocco and Siemens are hiding at COP22, Marrakech

7 November 2016 - by Western Sahara Ressource Watch

At COP22, beware of what you read about Morocco’s renewable energy efforts. An increasing part of the projects take place in the occupied territory of Western Sahara and is used for mineral plunder, new WSRW report documents. An increasing part (...)
Statement from Civil Society Organizations of Nepal

Say NO to ‘climate loan’

Adverse impacts of global warming and subsequent climate change are already been apparent with an increase in frequency and intensity of climate induced extreme events. People’s lives and livelihoods, especially of poor and marginalized social (...)
CADTM present in the International University of Peace

22 July 2010 - by Daniel Munevar

During these past few days the XXV edition of the International University of Peace took place in Sant Cugat del Valle, on the outskirts of Barcelona. This project came about in 1984 with the aim of creating the conditions and providing the (...)
Cancellation Of The External Debt And Recognition Of The Ecological Debt

6 June 2009 - by Sajida Hussein

The debt owed by poor countries to the IMF and World Bank is crippling, and very often comes at the expense of essential investments in people such as education, health care and environmental services. Some African countries, for example, spend (...)
The Debt in Figures

27 February 2009 - by Eric Toussaint, Damien Millet

A necessary tool to understand the current global crisis, the data collected here by Damien Millet and Eric Toussaint (CADTM) should enable us to make sense of one of the basic reasons for the international situation, as seen from the viewpoint (...)
2^nd South Asian Workshop on International Financial Institutions and Debt

Bhutan political crisis, Debt scenario and International Financial Institution

15 January 2009 - by Mohan Tamang

Presented by Mohan Tamang, Democratic Youth of Bhutan, 15th Jan 2009
G20: an inconsistent script to be thoroughly rewritten

17 November 2008 - by Eric Toussaint, Damien Millet

The G20 summit that brought together major industrialised and emergent countries in Washington on 15 November 2008 is a dismal failure. The international financial crisis is deep indeed, stock markets lost close to 40% of their capitalisation in (...)
Developing countries: dangerous times for the internal public debt

11 October 2008 - by Eric Toussaint

Since the second half of the 1990s, the internal public debt of the world’s developing countries has increased significantly. This increase is now reaching alarming proportions in a number of middle-income countries. While some very poor (...)
Grupo Nacional Deuda

Financial debt and sovereignty in the Constitution of 2008

THE DEBT IN THE CONSTITUTION PROPOSAL TO THE NATIONAL CONSTITUENT ASSEMBLY REGARDING THE DEBT AND FINANCIAL SOVEREIGNTY (February 2008) GENERAL THOUGHTS During the long neoliberal period, the foreign debt and the indebtedness system in (...)
International Campaign on Illegitimate Debt

Resolution of support for Ecuadorian Debt Audit

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, (...)
PAPDA again calls for the unconditional cancellation of Haiti’s debt, and calls on the Haitian authorities to use the debt payments for the hundreds of thousands of victims of recent storms and floods

19 September 2008 - by Camille Chalmers

Port-au-Prince, 10 September 2008 - (AHP) - The secretary-general of the Haitian Platform to Advocate for Alternative Development (PAPDA), Camille Chalmers, has pleaded again for international donors to unconditionally cancel Haiti’s external (...)
Third World: is another debt crisis in the offing?

12 September 2008 - by Eric Toussaint

September 2008 While taking a significant toll on public revenues, repayment of the public debt has, since 2004, ceased to be a major concern for most middle-revenue countries and for raw material exporting countries in general. In fact (...)
Brazilian Public Debt: Who ows who?

30 July 2008 - by Gabriel Strautman

Gabriel Strautman is an economist of the Institute of Alternative Policies for the Southern Cone (PACS), member of the Brazilian Network on Multilateral Financial Institutions and of the Jubilee South Network. The recent announcement of (...)