Tag: debt

Microfinance has been a nightmare for the Global South. Sri Lanka shows that there is an alternative

Ahilan Kadirgamar and Niyanthini Kadirgamar write how women’s groups and the co-operative movement are leading the way out of the debt trap promoted by microfinance strategies. Ahilan is a member of the Collective for Economic Democratisation. Niyanthini is a PhD Student at the University of Massachusetts, Amherst, and was previously engaged with people affected by […]

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Are we heading for another debt crisis? If so, what should we be doing?

Just when you thought life couldn’t get more retro (Leonard Cohen on the radio, post-Brexit trade negotiations, impending nuclear war), here comes another debt crisis. Probably. Had a good briefing from some key wonks in Development Finance International and the Jubilee Debt Campaign, two small but vital watchdogs that play a vital role in maintaining […]

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Are developing countries heading for another debt crisis? And if so, what is anyone doing about it?

Skating on thin ice is an occupational hazard in my job, but it was really cracking underfoot at a recent Chatham House Rules roundtable on ‘debt crisis prevention in developing countries’. The only way to survive is to stay quiet, nod and look thoughtful when people refer to completely unintelligible things like ‘the clarification of […]

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What to do about Syria? How about declaring its oil and arms contracts illegitimate? Neat idea from CGD

What to do about Syria? The inventive wonks at CGD think they have a neat answer: “The main financial and legal centres of the world should declare that any contracts signed after today by a regime which has been designated illegitimate will be regarded as odious, and will not be enforceable in their jurisdictions.” CGD’s […]

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Low income countries have a $65bn hangover from the global crisis -will it destroy the MDGs?

I wrote this for the Guardian Comment is Free site (went up last Friday), summarizing the findings of a new Oxfam research paper. Take note, anyone involved in next months’ big UN MDG summit. “Sometimes the things we don’t know about what is happening in the world take your breath away. A global economic crisis strikes […]

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The UN lays into finance, speculation and the IMF: UNCTAD's Trade and Development Report 2009

Another day, another UN report, this time the Trade and Development Report 2009, from the UN Conference on Trade and Development (UNCTAD), released last week. It’s surprisingly forthright. Set up in 1964, in the table-thumping days of the New International Economic Order, in recent years UNCTAD had become markedly more cautious, not least under its current […]

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