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 IMF’s ‘Austerity Drive’
Category: Africa
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.
From Forever to Eternal War
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.
Eight Contradictions of Imperialist ‘Rules-Based Order’
The neoliberal system is deteriorating under the weight of numerous internal contradictions, historical injustices and lack of economic viability, writes Vijay Prashad.
East Germany & the True Test of a Civilization
Vijay Prashad recalls the DDR’s efforts to create a humane and just health care system, with few resources available, in a country devastated by World War II.
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.
America’s New Cold War in Africa
Vijay Prashad says Washington’s approach to the U.S.-Africa Leaders Summit last month was guided by its broader New Cold War agenda.
Global Biodiversity Pact Deemed ‘Weak’
“Invitation to greenwash.” While some conservationists hailed the COP15 agreement, Greenpeace and Friends of the Earth said it leaves the natural world exposed to profit-driven attacks.