From Bolivia to Sri Lanka, countries fed up with the IMF-driven debt-austerity cycle and bullying by the U.S.-led bloc are beginning to assert their own agendas, writes Vijay Prashad.
Emergence of a New Non-Alignment
Tag: IMF austerity
Austerity & a New Cold War With China
Vijay Prashad says the expanding IMF-driven debt crisis, which has converted the idea of “financing for development” into “financing for debt servicing,” bears watching while China waives debt to 17 African nations.
The Hidden Hand of the IMF in Sudan’s Crisis
Orthodox economics is the ideology of the rich and powerful, writes Dian Maria Blandina. Poor countries such as Sudan, that are trying to develop, cannot afford a regime of free trade.
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.”
More Austerity Means More Protests in 2023
People are being asked to endure austerity cuts while suffering a cost-of-living crisis, write Isabel Ortiz and Sara Burke.
The Architecture of Our Future
The anti-inflation policies driven by the U.S. and the Eurozone are not going to ease the burdens on the working class in their countries and certainly not in the debt-ridden Global South, writes Vijay Prashad.
Investing in Guns or People?
For an explanation of the massive inflationary wave that is now cresting on the world and causing widespread suffering and instability, Vijay Prashad turns to U.S. economic policy.
Dark Times with a Sliver of Light
Vijay Prashad raises the hope that Argentina — which just joined China’s BRI — can forge a development strategy not written by IMF staffers in Washington.
IMF Loans Forcing Austerity on Crisis-Ravaged Nations
IMF pandemic-related loans are forcing developing nations to implement austerity measures that fuel further impoverishment and inequality, an Oxfam analysis finds.
COVID-19: Credit Ratings Punish Poorer Countries for Investing More in Health Care
Downgrades and the fear of them prevent much-needed public spending during the pandemic, writes Ramya Vijaya.