Eric Toussaint

Eric Toussaint — The World Bank report on the debts of “developing countries,” published on December 13, 2023, reveals an alarming fact: in 2022, developing countries as a whole spent a record US$443.5 billion to pay for their external public debt.
Sri Lanka’s acute economic crisis and sovereign debt default, along with its people’s uprising in 2022, has drawn attention across the world. It is described as the ‘canary in the coal mine’, that is, a harbinger of the likely future for other global south countries. Eric Toussaint, spokesperson for the Committee for the Abolition of Illegitimate Debt (CADTM) interviewed via email Colombo-based Balasingham Skanthakumar of the Social Scientists’ Association of Sri Lanka and the CADTM’s South Asia network.