![]() Its first mission was to support the new system of standard exchange rates. ![]() International Monetary Fund Along with the World Bank, the IMF was founded on the day the Bretton Woods Agreements were signed. He was challenging the policies imposed by the IMF IMF It will represent a sacrifice for them, but they will support these views.” I am sure that the socialist countries will understand and support this. When I speak of the new international economic order and fair prices I am not excluding the socialist countries. “When we speak of abolishing the debt we mean all the debts the Third World has with the industrialized world, and I am not excluding the socialist countries (applause). ![]() Mathematics and mathematicians’ theories are the ones which demonstrate that the debt cannot be paid.”įidel felt that abolition of the debt of the Third World needed to be granted by the industrialised capitalist countries as well as by so-called socialist countries. They should blame Pythagoras, Euclid, Archimedes, Pascal or Lovacheski, or any ancient, present, or modern mathematician you prefer. We are publishing the speech, given more than 30 years ago, at a time when a new crisis involving the debt of so-called “developing” countries is looming as a result of the collapse in the revenues those countries earn from exportation of their raw materials, the lack of economic growth in the most industrialised countries, and the anticipated bursting of new speculative bubbles, in particular on the stock exchanges.įidel’s speech was given at the end of the Continental Dialogue on the Foreign Debt of Latin America and the Caribbean, held in Havana on 3 August 1985.įidel Castro shows his sense of humour when he says: “They blame me for saying the debt cannot be paid. In Europe, the CADTM came into being out of the international campaign that began in Latin America (see ). In Africa, Thomas Sankara, president of Burkina Faso, took up the watchword and endeavoured to launch a vast movement for non-payment of debt (see – in French). His efforts to promote unity among peoples for cancellation of Third World debt gained wide acclaim in Latin America among the social and intellectual movements of the radical Left. In the speech, given in August 1985 after an international meeting on debt, Fidel said: “We realized (.) that in the final analysis the watchword of debt cancellation was valid for all countries of the Third World.” In 1985, Fidel Castro launched an international campaign to build a front of countries who faced unsustainable debts. Introduction to Fidel Castro’s Speech, by Eric Toussaint
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