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Debt is a manifestation of neoliberal capitalism and its crises. The current waves of debt accumulation have been an increasingly central phenomenon of the global economy since the 19th Century with the development of sovereign debt as a powerful tool for colonial empire-building. This led to the expansion of capital markets by creditors from industrialized countries who saw an opportunity to invest heavily abroad for profits. This background document on debt and corporate capture attempts to help members understand the current global debt crisis, the structural drivers and the role private financial actors/corporations have played in deepening the crisis while putting profits ahead of peoples rights and well-being.

Participation is key to fulfilling human rights, particularly economic, social, and cultural rights. Participation means that people can freely, actively, and meaningfully influence decision-making processes that affect their lives. States have a legal obligation to ensure that communities participate in decision-making processes.