Doctor in political science from the Liège and Paris VIII Universities. President of CADTM-Belgium, member of the International Council of the World Social Forum and of the CAIC Commission for the Integral Audit of the Public Debt (Ecuador). His latest book in French : La crise, quelles crises ? (with Damien Millet, Aden 2010) ; in English : Debt, the IMF, and the World Bank: Sixty Questions, Sixty Answers.
In the context of the financial crisis which is jolting European Union states in much the same way that it crippled Southern countries for several decades, the Committee for the Abolition of Third World Debt (CADTM) has presented eight alternative proposals. Some of the ideas stem from a particular view of society, while others are based on CADTM’s experience in Third World countries. All, without exception, deserve to be examined.
U.S. aggressiveness towards the Venezuelan, Bolivian, and Ecuadorian governments has increased in response to diminishing U.S. influence over the Latin American and Caribbean area, which Washington has been blaming on Hugo Chávez, in particular, and also on Cuba ... but Cuba is a much older story.
Geography and bad luck are only partly to blame for Haiti’s tragedy. Haiti was born of slavery and revolution, declaring independence from France on 1 January 1804. In exchange for diplomatic recognition, France forced the new republic to pay enormous reparations. Ever since, Haiti has been trapped in a spiral of crippling debt and exploitation through decades of US occupations and policies combined with strangling IMF-World Bank diktats. The fundamentals of the Haitian human tragedy can hardly be pinned on nature.
The G-20, the self-proclaimed global regulation authority, has decided to bolster the capacity of the FMI and the World Bank to siphon the wealth from the South in order to solve the crisis in the North. In an effort to conceal the ruthlessness of this policy, at their Istanbul meeting the international institutions agreed to give the IMF a new face while leaving intact the voting principles of its General Assembly. The leaders of the CADTM (Committee for the Abolition of the Third World Debt) denounce this consequential widening of world imbalances.
Obama’s revamping of the Unites States’ image is still in full swing. In a speech delivered in Accra before the Ghanaian parliament, he reached out to Africans and vowed to help them defeat under-development. As previously in Cairo and Moscow, Obama’s rhetoric charmed the western media - at last relieved to have a winsome ’emperor’ to report on - but was strongly rebuked by those for whom his message was intended. Leading members of the Committee for the Abolition of Third World Debt (CADTM) analyse Obama’s paternalistic discourse.
While the rich countries fret over the consequences of the financial crisis, hunger continues to claim lives in the poor countries. The Millennium Development Goals adopted by the UN were intended to curb famine but, instead, it is progressing. According to Damien Millet and Eric Toussaint of the (Committee for the Abolition of Third World Debt (CADTM), the root causes of this tragedy are lodged in the public policies dictated by the IMF and the World Bank, in widespread speculation and, of course, in the debt phenomenon itself.
Those who were hoping the G-20 would result in concrete measures to resolve the world ecomic crisis will have been disappointed. The Summit prioritized finance capitalism and decided to provide increased funds to the IMF so that it may pursue its exploitative policies vis-à-vis the Third World. By breaking down resistance, the crisis offers an unexpected "opportunity" for the advocates of capitalism to accelerate the system’s globalisation process. Damien Millet and Eric Toussaint offer us their assessment.
The international crisis that broke in summer 2008 demolished all the neo-liberal dogmas and exposed the deception behind them. Unable to deny their failure, the World Bank and the International Monetary Fund claim they no longer uphold the set of neo-liberal policies known as the Washington Consensus. Yet, discredited though they may be, these two institutions are using the international crisis to return to the limelight.
Obama, the Wall Street and City’s pet, had just appointed his economic team. The ex-senator of the Illinois, who led the most expensive election campaign of the History, thanks to JP Morgan Chase and Goldman Sachs’s subsidies, called back to the White House those who organized the wave of deregulation of the 90s, observe Damien Millet and Éric Toussaint.
The high-flown oratory of World Bank experts about good management, corruption and the reduction of poverty is only a farce. As a matter of fact, the World Bank imposed on Chad, at all costs, an oil pipeline project that was supposed to enrich a well-known dictator who has just laughed at that institution in a masterly manner. Meanwhile, the people in that country sweat blood to pay a colossal debt without taking the least advantage of their own natural wealth. Let’s see in detail this skit on a neoliberal model artificially imposed by international institutions at the service of world powers and money.
The new US administration
A Threat To Peoples of Both the South and North
Extending a hand to the Africans