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The '''Committee for the Abolition of Illegitimate Debt''' (CADTM) - formerly called Committee for the cancellation of the Thirld World Debt - is an international network of activists who strive to develop and implement radical alternatives that would contribute to the maintenance, and indeed retrieval, of fundamental ]s all over the world. The '''Committee for the Abolition of Illegitimate Debt''' (CADTM) - formerly called Committee for the cancellation of the Thirld World Debt - is an international network of activists<ref name="BangkokPost" /> founded on 15 March 1980 in Belgium that campaigns for the cancellation of debts in developing countries and for "the creation of a world respectful of people’s fundamental rights, needs and liberties.<ref name="about_CADTM" />


== Aims ==
⚫ Through such actions as the publishing of a magazine and volumes of essays and the organising of seminars, lectures, debates, training sessions, international conferences and campaigns, it hopes to raise people’s awareness of North - South inequalities. With the same aim in view it participates in a number of national and international initiatives and in citizens’ mobilisations. Another of CADTM’s avenues of action is to lobby ministers, members of parliament and other politically active citizens.
CADTM's main aim is to achieve the cancellation of the external ] and subsequently to break the spiral of deeper and deeper indebtedness by setting up models of socially fair and environmentally sustainable development. It describes its supplementary aims as "radically transforming the world's institutional and financial framework"; protection of human rights; strengthening of citizens' movements and activism; and pressuring political leaders to implement human rights guarantees and implementing CADTM and "social movements'" policies.<ref name="about_CADTM" />


CADTM also aims to support the creation of taxes similar to the ], to increase the official aid budget of rich countries to 0.7% of the ], to set up a world tax on large incomes, and for global conversion of military expenditure into social and cultural expenditure.
CADTM’s specific focus is the ] and its aim is to achieve the cancellation of the external public debt in third world countries and subsequently to break the spiral of deeper and deeper indebtedness by setting up models of socially fair and environmentally sustainable development.


It aims to suspend the ]'s and ]'s structural adjustment policies, to radically reform the ], and to achieve strict control on financial markets and the suppression of ]s.
In this perspective CADTM works towards
*the setting up of a development funds that would be democratically controlled by local populations and financed through the cancellation of the public external debt of third world countries;
*the retrocession of all ill-acquired goods;
*the taxation of speculative financial transactions (similar to the tax proposed by ]) ;
*an increase in the official aid budget of rich countries to 0.7% of the ];
*the setting up of a world tax on large incomes;
*the global conversion of military expenditure into social and cultural expenditure.


⚫ CADTM claims to support ], peoples' right to ], radical ]s and a general reduction of working hours.
CADTM also demands
*the setting up of a new international economic and structural regime through the suspension of the ]’s and the ]’s adjustment policies;
*a radical reform of the ]’s underlying logic, which at the moment favours rich countries against poor countries;
*a strict control on financial markets;
*the suppression of ]s.


== Publications ==
⚫ Finally CADTM supports ], peoples’ right to ], radical ]s and a general reduction of working hours.
⚫ CADTM publishes a magazine, essays and a website and organises seminars, lectures, debates, training sessions, international conferences and campaigns. It participates in national and international initiatives and in citizens' mobilisations. It lobbies ministers, members of parliament and other politically active citizens.

In January 2019, '']'' summarised a CADTM article by Qian Benli that criticised the Chinese ] as not benefiting ordinary Chinese and being heavily involved in corruption.<ref name="EconTimes_Benli" />

In February 2019, ] used a report by CADTM on debt in ] to suggest that big holders of Puerto Rican debt, including the investment funds of prestigious US universities, would profit from financing arrangements following ].<ref name="DemNow_PRico" />

==References==
{{reflist|2|refs=

<ref name="BangkokPost">{{cite news | last1= Parpart | first1= Eric | last2= | first2= | pages= | language = | title= Belt tightening |trans-title = | date= 2018-07-30 | publisher= ] | url= https://www.bangkokpost.com/business/news/1512518/belt-tightening |accessdate=2019-03-05 |archiveurl= https://webcitation.org/76dKq25a8?url=https://www.bangkokpost.com/business/news/1512518/belt-tightening |archivedate= 2019-03-05 |deadurl=no}}</ref>

<ref name="about_CADTM">{{cite web | last1 = | first1 = | last2= | first2= | authorlink = | coauthors = | title = About CADTM | work = | publisher = Committee for the Abolition of Illegitimate Debt | date = 2007-11-08 | url = http://www.cadtm.org/About-CADTM |format = | doi = | accessdate = 2019-03-05 |archiveurl= https://web.archive.org/web/20190305002727/http://www.cadtm.org/About-CADTM |archivedate= 2019-03-05 |deadurl=no}}</ref>

<ref name="EconTimes_Benli">{{cite news | last1= | first1= | last2= | first2= | pages= | language = | title= China's OBOR expectations look gloomy: Expert |trans-title = | date= 2019-01-04 | publisher= ] | url= https://economictimes.indiatimes.com/news/defence/chinas-obor-expectations-look-gloomy-expert/articleshow/67377396.cms |accessdate=2019-03-05 |archiveurl= https://web.archive.org/web/20190106103235/https://economictimes.indiatimes.com/news/defence/chinas-obor-expectations-look-gloomy-expert/articleshow/67377396.cms |archivedate= 2019-03-05 |deadurl=no}}</ref>

<ref name="DemNow_PRico">{{cite news | last1= | first1= | last2= | first2= | pages= | language = | title= Puerto Rico: Vulture Funds to Make a Killing as Judge Approves Deal to Restructure Island’s Debt |trans-title = | date= 2019-02-06 | publisher= ] | url= https://www.democracynow.org/2019/2/6/puerto_rico_vulture_funds_to_make |accessdate=2019-03-05 |archiveurl= https://web.archive.org/web/20190305010507/https://www.democracynow.org/2019/2/6/puerto_rico_vulture_funds_to_make |archivedate= 2019-03-05 |deadurl=no}}</ref>

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==External links== ==External links==

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The Committee for the Abolition of Illegitimate Debt (CADTM) - formerly called Committee for the cancellation of the Thirld World Debt - is an international network of activists founded on 15 March 1980 in Belgium that campaigns for the cancellation of debts in developing countries and for "the creation of a world respectful of people’s fundamental rights, needs and liberties.

Aims

CADTM's main aim is to achieve the cancellation of the external public debt in third world countries and subsequently to break the spiral of deeper and deeper indebtedness by setting up models of socially fair and environmentally sustainable development. It describes its supplementary aims as "radically transforming the world's institutional and financial framework"; protection of human rights; strengthening of citizens' movements and activism; and pressuring political leaders to implement human rights guarantees and implementing CADTM and "social movements'" policies.

CADTM also aims to support the creation of taxes similar to the Tobin tax, to increase the official aid budget of rich countries to 0.7% of the GDP, to set up a world tax on large incomes, and for global conversion of military expenditure into social and cultural expenditure.

It aims to suspend the IMF's and World Bank's structural adjustment policies, to radically reform the World Trade Organization, and to achieve strict control on financial markets and the suppression of tax havens.

CADTM claims to support women's emancipation, peoples' right to self-determination, radical land reforms and a general reduction of working hours.

Publications

CADTM publishes a magazine, essays and a website and organises seminars, lectures, debates, training sessions, international conferences and campaigns. It participates in national and international initiatives and in citizens' mobilisations. It lobbies ministers, members of parliament and other politically active citizens.

In January 2019, The Economic Times summarised a CADTM article by Qian Benli that criticised the Chinese Belt and Road Initiative as not benefiting ordinary Chinese and being heavily involved in corruption.

In February 2019, Democracy Now used a report by CADTM on debt in Puerto Rico to suggest that big holders of Puerto Rican debt, including the investment funds of prestigious US universities, would profit from financing arrangements following Hurricane Maria.

References

  1. Parpart, Eric (2018-07-30). "Belt tightening". Bangkok Post. Archived from the original on 2019-03-05. Retrieved 2019-03-05. {{cite news}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  2. ^ "About CADTM". Committee for the Abolition of Illegitimate Debt. 2007-11-08. Archived from the original on 2019-03-05. Retrieved 2019-03-05. {{cite web}}: Cite has empty unknown parameter: |coauthors= (help); Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  3. "China's OBOR expectations look gloomy: Expert". The Economic Times. 2019-01-04. Archived from the original on 2019-03-05. Retrieved 2019-03-05. {{cite news}}: |archive-date= / |archive-url= timestamp mismatch; 2019-01-06 suggested (help); Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  4. "Puerto Rico: Vulture Funds to Make a Killing as Judge Approves Deal to Restructure Island's Debt". Democracy Now. 2019-02-06. Archived from the original on 2019-03-05. Retrieved 2019-03-05. {{cite news}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)

External links

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