After being plundered of both its wealth and people by colonial powers, Africa now faces IMF-imposed austerity, obscene debt and forced underdevelopment.
Vijay Prashad: How the IMF Underdevelops Africa
Tag: sub-Saharan Africa
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.
COP27: The Debt Crisis Hanging Over Global Climate Meeting
Global South countries that are least responsible for the climate crisis are being forced to take on the devastating costs, writes Jerome Phelps.
Gaslighting 1.1 Billion Africans
It is generally easier for countries that offer development finance for energy projects to make low-carbon rules for others, not for themselves, write Benjamin Attia and Morgan Bazilian.