Cinema Libre has acquired film rights to John Perkins’ explosive memoir Confessions Of An Economic Hit Man.

The bestseller recounts how operatives like Perkins, backed by the CIA, travelled the globe and used all manner of illegal means to arrange loans to developing countries for infrastructure development, thus ensuring that US contractors landed lucrative projects.

Philippe Diaz, chairman of Cinema Libre Studio, negotiated the deal with Perkins for an undisclosed sum and will produce.

According to Cinema Libre he has secured $25m in capital through European financiers with the balance to be completed by an undisclosed major American studio.

A writer and director will be announced in July and production is set to begin in mid-2011 in time for May 2012 completion.

Diaz and Perkins have worked together for several years since Perkins was interviewed for Diaz’ documentary The End Of Poverty?