Debt Bondage Or Self-Reliance
A Popular Perspective on the Global Debt Crisis

Publisher:  GATT-Fly, Toronto
Year Published:  1985   First Published:  1985
Pages:  86pp   ISBN:  0-9692334-0-X
Library of Congress Number:  HC3891.5.D43 1985   Dewey:  336.3'435
Resource Type:  Book
Cx Number:  CX3205

Abstract:  "Debt bondage" is a term which describes very aptly the situation of millions of the world's workers, peasants and unemployed. They did not seek their country's international debt, nor have they benefitted from it. Yet they are forced to bear the burden of austerity measures imposed by the International Monetary Fund (IMF) and private banks to pay for that debt.

Self-reliance is the demand of a growing number of people's movements in Third World countries and in Canada who are struggling against IMF's "cures" of the debt crisis. Self-reliance means putting the basic needs of people ahead of multinational profits.


DEBT BONDAGE OR SELF-RELINACE examines the global debt crisis from the perspective of the people who are most severly affected by the crisis. It highlights the alternative programs of popular organizations in the Third World and in Canada who are struggling for their emancipation from debt bondage. Examples of the problem are given from Brazil, Mexico, the Philippines, Peru, Bolivia and Canada. The appendix lists proposals for reforming world finance.

The informatin available on other GATT-Fly publications. GATT-Fly is a project of Canadian churches that is mandated to do research, education and action in solidarity with people's organizations in Canada and the Third World.