COMMITTEE FOR THE ABOLITION OF ILLEGITIMATE DEBT

By Dilip -

The World lost David Greaber early this month at the age of 59. The talented anthropologist was not only true to his discipline but had a wonderful capacity to show its pertinence with popular causes. His highly successful book, Debt,the first 5000 years, is a phenomenal study of the history of debt and a fascinating insight into debt, money, barter, and the credit systems used by human societies for thousands of years. CADTM pays respect to his memory and his works.... We are shocked at the terrible explosions that shook Beirut, last month. We also reiterate our solidarity with the Lebanese people who, for too many years, have had to suffer an unfair concatenation of murderous crises. 

It is extremely important to expose the political responsibilities and those that attempt to profit from the situation. We hope that the popular and collective actions arising in Lebanon will liberate the people from this vicious cycle.... The international financial system’s reliance upon credit ratings – usually based on dubious premises – needs urgent rethinking. Patrick Bond and Dominic Brown argue that this highly-contested rating system will increase the burden of indebted nations and consequently, negate debt justice. In another article, Brown advocates for a judicious utilisation of pension funds combined with debt cancellation to fuel a just energy transition... Ahilan Kadiragamar highlights the nefarious role played by micro credit in Sri Lanka causing innumerable debts, distress and suicides... As part of the series on the 76 years of World Bank and the IMF, we highlight the roles and complicities of a series of former Bank presidents and how these men, all US citizens, continuously served the US domination of this institution....

http://www.cadtm.org/Newsletter

Debt: The first five thousand years. By DAVID GRAEBER

The World Bank: an ABC

World Bank’s rating obsession will negate debt justice

Unleashing the power of pension funds and debt cancellation to finance a just energy transition

The World Bank and the IMF: the creditors’ bailiffs


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