Category: Africa

The IMF’s ‘Austerity Drive’

Oxfam estimated that “for every $1 the IMF encouraged a set of poor countries to spend on public goods, it has told them to cut four times more through austerity measures.”

The Lying IMF

Alternative sources of financing are beginning to empower poorer nations in the Global South to pursue projects grounded in genuine development theory, writes Vijay Prashad.

No Billion-Dollar Bailouts For Africa

Despite the millions more people in Africa — particularly women — now engulfed by extreme poverty after Covid, Vijay Prashad notes the absence of urgent phone calls between world capitals or emergency Zoom meetings between central banks. 

Building a Public Future

The authors wave a red flag at public-private partnerships, which, despite major failures, continue to be promoted by institutions such as the World Bank to finance social services and infrastructure. 

Workers and Democracy

Vijay Prashad highlights workers’ struggles in the second half of the 20th century against Third World dictatorial regimes put in place by anti-communist oligarchies and their allies in the West.